https://www.taxtmi.com/caselaws?id=433939 The ITAT upheld the CIT (Appeals)'s decision to delete the addition of undisclosed capital gain in the case, emphasizing the Revenue's failure to provide concrete evidence of cash transactions. The ITAT highlighted the burden of proof on the Revenue and the lack of substantiation in the seized documents. The judgment stressed the need for corroborative evidence to support claims, leading to the deletion of the addition in the absence of conclusive proof. The matter was remitted back to the AO for further examination based on additional material from related cases. en-us Thu, 02 Feb 2023 00:00:00 +0530 Tue, 14 Feb 2023 08:49:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433939 The ITAT upheld the CIT (Appeals)'s decision to delete the addition of undisclosed capital gain in the case, emphasizing the Revenue's failure to provide concrete evidence of cash transactions. The ITAT highlighted the burden of proof on the Revenue and the lack of substantiation in the seized documents. The judgment stressed the need for corroborative evidence to support claims, leading to the deletion of the addition in the absence of conclusive proof. The matter was remitted back to the AO for further examination based on additional material from related cases. Case-Laws Income Tax Thu, 02 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433939