https://www.taxtmi.com/caselaws?id=410543 The ITAT upheld the CIT(A)'s decision to delete additions of Rs. 1,25,00,000 for an unexplained advance and Rs. 7,60,17,148 for unaccounted cash receipts. The ITAT emphasized the lack of concrete evidence and reliance on unreliable sources by the AO. The judgment underscores the importance of substantiated evidence in tax assessments and places the burden of proof on the revenue to establish transactions conclusively. en-us Tue, 03 Aug 2021 00:00:00 +0530 Wed, 04 Aug 2021 08:35:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410543 The ITAT upheld the CIT(A)'s decision to delete additions of Rs. 1,25,00,000 for an unexplained advance and Rs. 7,60,17,148 for unaccounted cash receipts. The ITAT emphasized the lack of concrete evidence and reliance on unreliable sources by the AO. The judgment underscores the importance of substantiated evidence in tax assessments and places the burden of proof on the revenue to establish transactions conclusively. Case-Laws Income Tax Tue, 03 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410543