https://www.taxtmi.com/caselaws?id=413494 The Tribunal upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete the addition of Rs. 5,93,51,700/- for unexplained investment in land purchase. The Revenue's challenge was dismissed due to lack of evidence, failure to provide statements to the assessee, and absence of statutory basis for taxing the difference between guideline and registry values. The Tribunal emphasized natural justice principles, supporting the importance of cross-examination and providing statements to the assessee. The appeal was ultimately dismissed, affirming the CIT(A)'s decision. en-us Mon, 23 Aug 2021 00:00:00 +0530 Wed, 13 Oct 2021 08:43:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413494 The Tribunal upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete the addition of Rs. 5,93,51,700/- for unexplained investment in land purchase. The Revenue's challenge was dismissed due to lack of evidence, failure to provide statements to the assessee, and absence of statutory basis for taxing the difference between guideline and registry values. The Tribunal emphasized natural justice principles, supporting the importance of cross-examination and providing statements to the assessee. The appeal was ultimately dismissed, affirming the CIT(A)'s decision. Case-Laws Income Tax Mon, 23 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413494