https://www.taxtmi.com/caselaws?id=753047 HC dismissed appeal regarding undisclosed investment in family property acquisition. Revenue authorities found receipt during search showing sister-in-law received payment from assessee for her property rights. ITAT concluded certificate from sister-in-law unreliable as she was supporting brother-in-law's case. Court held once genuine receipt exists without denial, full payment presumed made. Subsequent payments by assessee to sister-in-law from 2003-2006 deemed irrelevant as made after search and contained no reference to remaining dues. ITAT order upheld. en-us Fri, 17 May 2024 00:00:00 +0530 Thu, 23 May 2024 08:37:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753047 HC dismissed appeal regarding undisclosed investment in family property acquisition. Revenue authorities found receipt during search showing sister-in-law received payment from assessee for her property rights. ITAT concluded certificate from sister-in-law unreliable as she was supporting brother-in-law's case. Court held once genuine receipt exists without denial, full payment presumed made. Subsequent payments by assessee to sister-in-law from 2003-2006 deemed irrelevant as made after search and contained no reference to remaining dues. ITAT order upheld. Case-Laws Income Tax Fri, 17 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753047