https://www.taxtmi.com/caselaws?id=424255 The Appellate Tribunal partially allowed the assessee's appeal, reducing the addition of Rs.25,80,000 as undisclosed income to Rs.12,90,000. The Tribunal emphasized the lack of conclusive evidence regarding the claimed agricultural income and advances refunded from customers in land transactions. The decision highlighted the importance of substantiating financial transactions, especially in cases involving undisclosed income and agricultural activities. Thorough verification and documentation were deemed necessary to support claims during tax assessments, resulting in a modification of the CIT(A)'s order in favor of the assessee to a limited extent. en-us Tue, 07 Jun 2022 00:00:00 +0530 Sat, 25 Jun 2022 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424255 The Appellate Tribunal partially allowed the assessee's appeal, reducing the addition of Rs.25,80,000 as undisclosed income to Rs.12,90,000. The Tribunal emphasized the lack of conclusive evidence regarding the claimed agricultural income and advances refunded from customers in land transactions. The decision highlighted the importance of substantiating financial transactions, especially in cases involving undisclosed income and agricultural activities. Thorough verification and documentation were deemed necessary to support claims during tax assessments, resulting in a modification of the CIT(A)'s order in favor of the assessee to a limited extent. Case-Laws Income Tax Tue, 07 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424255