https://www.taxtmi.com/caselaws?id=434880 The Tribunal allowed the appeal, directing the deletion of the Rs. 25,00,000 addition to the appellant's income for AY 2016-17. The Tribunal found no substantial evidence beyond a photocopy of a Memorandum of Understanding (MOU) to prove the investment, while the appellant successfully demonstrated the legitimate source of the investment through banking channels and subsequent refund from the builder. The decision emphasizes the importance of concrete evidence to substantiate income additions and the burden on the tax authorities to establish unaccounted investments, ensuring fairness and legality in tax assessments. en-us Fri, 03 Mar 2023 00:00:00 +0530 Mon, 06 Mar 2023 11:18:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434880 The Tribunal allowed the appeal, directing the deletion of the Rs. 25,00,000 addition to the appellant's income for AY 2016-17. The Tribunal found no substantial evidence beyond a photocopy of a Memorandum of Understanding (MOU) to prove the investment, while the appellant successfully demonstrated the legitimate source of the investment through banking channels and subsequent refund from the builder. The decision emphasizes the importance of concrete evidence to substantiate income additions and the burden on the tax authorities to establish unaccounted investments, ensuring fairness and legality in tax assessments. Case-Laws Income Tax Fri, 03 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434880