https://www.taxtmi.com/caselaws?id=414785 The appellate tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the addition of Rs. 14.10 lakhs under section 69 of the Income-tax Act, 1961. The tribunal accepted the appellant's explanation of using salary savings for property investment, considering previous CIT(A) decisions and the consistent use of own funds for construction. The decision emphasized the need to substantiate the sources of funds and previous rulings in determining the legitimacy of investments. en-us Mon, 01 Nov 2021 00:00:00 +0530 Wed, 17 Nov 2021 08:52:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414785 The appellate tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the addition of Rs. 14.10 lakhs under section 69 of the Income-tax Act, 1961. The tribunal accepted the appellant's explanation of using salary savings for property investment, considering previous CIT(A) decisions and the consistent use of own funds for construction. The decision emphasized the need to substantiate the sources of funds and previous rulings in determining the legitimacy of investments. Case-Laws Income Tax Mon, 01 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414785