https://www.taxtmi.com/caselaws?id=428899 The Appellate Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to delete the addition of Rs. 7,84,00,000/- to the Assessee firm's income. The Tribunal emphasized the lack of statutory presumption and concrete evidence supporting the Assessing Officer's position regarding the difference in property valuation for stamp duty purposes. The Tribunal highlighted the burden of proof on the Revenue to establish any understatement of consideration, ultimately dismissing the Revenue's appeal on 11th October, 2022. en-us Tue, 11 Oct 2022 00:00:00 +0530 Thu, 13 Oct 2022 08:28:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428899 The Appellate Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) to delete the addition of Rs. 7,84,00,000/- to the Assessee firm's income. The Tribunal emphasized the lack of statutory presumption and concrete evidence supporting the Assessing Officer's position regarding the difference in property valuation for stamp duty purposes. The Tribunal highlighted the burden of proof on the Revenue to establish any understatement of consideration, ultimately dismissing the Revenue's appeal on 11th October, 2022. Case-Laws Income Tax Tue, 11 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428899