https://www.taxtmi.com/caselaws?id=418021 The tribunal allowed the appeals for the assessment years 2014-15 and 2015-16, directing the deletion of the addition of Rs. 8,00,000 as unexplained expenditure. The tribunal emphasized the importance of relying on material evidence rather than assumptions, highlighting that the addition was not supported by corroborative evidence and was solely based on seized documents. The tribunal concluded that the property deal was not completed, as evidenced by the seller's denial of receiving further payments, leading to the unwarranted addition being deleted. en-us Mon, 20 Dec 2021 00:00:00 +0530 Mon, 07 Feb 2022 08:13:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418021 The tribunal allowed the appeals for the assessment years 2014-15 and 2015-16, directing the deletion of the addition of Rs. 8,00,000 as unexplained expenditure. The tribunal emphasized the importance of relying on material evidence rather than assumptions, highlighting that the addition was not supported by corroborative evidence and was solely based on seized documents. The tribunal concluded that the property deal was not completed, as evidenced by the seller's denial of receiving further payments, leading to the unwarranted addition being deleted. Case-Laws Income Tax Mon, 20 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418021