https://www.taxtmi.com/caselaws?id=430049 The ITAT allowed the appeal, ruling in favor of the assessee. It found that the Assessing Officer failed to establish the alleged cash payment of Rs. 14,00,000 from the assessee's accounts. All payments for flat booking were made via cheques, and the canceled booking was properly reflected in the books. The ITAT emphasized the lack of evidence implicating the assessee in unexplained cash payments, leading to the dismissal of the addition of Rs. 14,00,000 as unexplained investment for A.Y. 2011-12. en-us Wed, 02 Nov 2022 00:00:00 +0530 Thu, 10 Nov 2022 09:07:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430049 The ITAT allowed the appeal, ruling in favor of the assessee. It found that the Assessing Officer failed to establish the alleged cash payment of Rs. 14,00,000 from the assessee's accounts. All payments for flat booking were made via cheques, and the canceled booking was properly reflected in the books. The ITAT emphasized the lack of evidence implicating the assessee in unexplained cash payments, leading to the dismissal of the addition of Rs. 14,00,000 as unexplained investment for A.Y. 2011-12. Case-Laws Income Tax Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430049