https://www.taxtmi.com/caselaws?id=439901 The Tribunal upheld the decision of the lower authorities and dismissed the appeal, maintaining the addition of Rs. 30,69,525/- as deemed income of the assessee under section 56(2)(vii)(b) for Assessment Year 2014-15. Despite the assessee's non-appearance during the appeal hearing and failure to provide a satisfactory explanation for valuation differences, the Tribunal found the objections unsubstantiated and raised merely for the sake of it, leading to the affirmation of the addition by the Commissioner of Income-Tax (Appeals) and the Income Tax Officer. en-us Mon, 03 Jul 2023 00:00:00 +0530 Wed, 05 Jul 2023 08:01:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439901 The Tribunal upheld the decision of the lower authorities and dismissed the appeal, maintaining the addition of Rs. 30,69,525/- as deemed income of the assessee under section 56(2)(vii)(b) for Assessment Year 2014-15. Despite the assessee's non-appearance during the appeal hearing and failure to provide a satisfactory explanation for valuation differences, the Tribunal found the objections unsubstantiated and raised merely for the sake of it, leading to the affirmation of the addition by the Commissioner of Income-Tax (Appeals) and the Income Tax Officer. Case-Laws Income Tax Mon, 03 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439901