https://www.taxtmi.com/caselaws?id=415248 The case involved issues regarding the assessment of short term capital gains, application of section 50C in scrutiny assessment, treatment of cash credit, taxation of unexplained cash credits, estimation of income from undisclosed transactions, and substantiation of claims in appeal. The Assessing Officer made additions to the capital gains, invoked section 50C for property valuation differences, included unverified credit balance in income, taxed unexplained cash credits, estimated income from undisclosed transactions, and the CIT(A) upheld these additions due to lack of substantiating evidence, leading to the dismissal of the appeal by the Tribunal. en-us Tue, 05 Oct 2021 00:00:00 +0530 Wed, 01 Dec 2021 08:49:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415248 The case involved issues regarding the assessment of short term capital gains, application of section 50C in scrutiny assessment, treatment of cash credit, taxation of unexplained cash credits, estimation of income from undisclosed transactions, and substantiation of claims in appeal. The Assessing Officer made additions to the capital gains, invoked section 50C for property valuation differences, included unverified credit balance in income, taxed unexplained cash credits, estimated income from undisclosed transactions, and the CIT(A) upheld these additions due to lack of substantiating evidence, leading to the dismissal of the appeal by the Tribunal. Case-Laws Income Tax Tue, 05 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415248