https://www.taxtmi.com/caselaws?id=433117 The Appellate Tribunal upheld the validity of the assessment framed by the Assessing Officer under sections 147/143(3) of the Income-tax Act, dismissing the challenge regarding the timing of the notice u/s.143(2). Additionally, the Tribunal upheld the addition of Rs.5,00,000/- made under section 69A of the Income Tax Act, as the claim regarding the source of funds for investment was found unsubstantiated based on bank account transactions and lack of documentary evidence. The appeal against the CIT(Appeals) decision was dismissed due to insufficient proof regarding the source of investment, affirming the addition made by the Assessing Officer. en-us Thu, 19 Jan 2023 00:00:00 +0530 Sat, 21 Jan 2023 08:51:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433117 The Appellate Tribunal upheld the validity of the assessment framed by the Assessing Officer under sections 147/143(3) of the Income-tax Act, dismissing the challenge regarding the timing of the notice u/s.143(2). Additionally, the Tribunal upheld the addition of Rs.5,00,000/- made under section 69A of the Income Tax Act, as the claim regarding the source of funds for investment was found unsubstantiated based on bank account transactions and lack of documentary evidence. The appeal against the CIT(Appeals) decision was dismissed due to insufficient proof regarding the source of investment, affirming the addition made by the Assessing Officer. Case-Laws Income Tax Thu, 19 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433117