https://www.taxtmi.com/caselaws?id=309457 ITAT Jaipur allowed the assessee's appeal and deleted the addition of Rs. 76 lakhs made as unexplained investment in the purchase of a plot. The Tribunal held that the Revenue failed to establish payment of any on-money, noting that the seller's sworn statement confirmed receipt of only Rs. 65 lakhs and that there was no construction, water or electricity connection on the plot. The cancellation agreement, seized during the search, was accepted as authentic in absence of contrary evidence. ITAT held that the lower authorities erred in treating the investment as unexplained and reversed the order of the CIT(A). en-us Tue, 14 Feb 2017 00:00:00 +0530 Thu, 11 Dec 2025 18:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309457 ITAT Jaipur allowed the assessee's appeal and deleted the addition of Rs. 76 lakhs made as unexplained investment in the purchase of a plot. The Tribunal held that the Revenue failed to establish payment of any on-money, noting that the seller's sworn statement confirmed receipt of only Rs. 65 lakhs and that there was no construction, water or electricity connection on the plot. The cancellation agreement, seized during the search, was accepted as authentic in absence of contrary evidence. ITAT held that the lower authorities erred in treating the investment as unexplained and reversed the order of the CIT(A). Case-Laws Income Tax Tue, 14 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309457