https://www.taxtmi.com/caselaws?id=418267 The Tribunal allowed the appeal, directing the AO to delete the addition of Rs. 4.22 crore. It held that the land was introduced as capital contribution by the partner and not purchased by the firm. The Tribunal found no evidence of unexplained investment and deemed the statement recorded under Section 131 during the survey to be invalid and unreliable without corroborative evidence. The appeal was allowed based on these grounds, rendering further consideration of other submissions unnecessary. en-us Mon, 31 Jan 2022 00:00:00 +0530 Fri, 11 Feb 2022 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418267 The Tribunal allowed the appeal, directing the AO to delete the addition of Rs. 4.22 crore. It held that the land was introduced as capital contribution by the partner and not purchased by the firm. The Tribunal found no evidence of unexplained investment and deemed the statement recorded under Section 131 during the survey to be invalid and unreliable without corroborative evidence. The appeal was allowed based on these grounds, rendering further consideration of other submissions unnecessary. Case-Laws Income Tax Mon, 31 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418267