https://www.taxtmi.com/caselaws?id=404249 The Tribunal overturned the CIT(A)'s decision and directed the deletion of the addition of Rs. 29 lakhs as income from undisclosed sources. It emphasized the importance of considering documentary evidence and proper verification before making such additions based on suspicions. The Tribunal highlighted the necessity of issuing summons to confirming parties to verify transactions. Relying on legal precedents, it concluded that the addition should be deleted, emphasizing the need for substantive evidence to support allegations of undisclosed income. en-us Thu, 18 Feb 2021 00:00:00 +0530 Fri, 19 Feb 2021 10:36:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404249 The Tribunal overturned the CIT(A)'s decision and directed the deletion of the addition of Rs. 29 lakhs as income from undisclosed sources. It emphasized the importance of considering documentary evidence and proper verification before making such additions based on suspicions. The Tribunal highlighted the necessity of issuing summons to confirming parties to verify transactions. Relying on legal precedents, it concluded that the addition should be deleted, emphasizing the need for substantive evidence to support allegations of undisclosed income. Case-Laws Income Tax Thu, 18 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404249