https://www.taxtmi.com/caselaws?id=410329 The ITAT dismissed the assessee's appeal, confirming the addition of Rs. 14,15,788/- as development expenses and treating the surrendered amount of Rs. 83,00,000/- as income from other sources. The ITAT upheld the CIT(A)'s decision to provide partial relief and dismissed the revenue's appeal due to low tax effect. The judgment emphasizes the importance of the assessee's responsibility to demonstrate the source of investments to claim them as business income. en-us Wed, 07 Jul 2021 00:00:00 +0530 Fri, 30 Jul 2021 09:08:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410329 The ITAT dismissed the assessee's appeal, confirming the addition of Rs. 14,15,788/- as development expenses and treating the surrendered amount of Rs. 83,00,000/- as income from other sources. The ITAT upheld the CIT(A)'s decision to provide partial relief and dismissed the revenue's appeal due to low tax effect. The judgment emphasizes the importance of the assessee's responsibility to demonstrate the source of investments to claim them as business income. Case-Laws Income Tax Wed, 07 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410329