https://www.taxtmi.com/caselaws?id=754185 Foreign remittance received from Singapore required factual verification before any addition under section 68 could stand. The assessee had produced the investment agreement, foreign inward remittance certificate, bank records and RBI permissions to support the receipt as investment, but the appellate enhancement was made without proper examination of that material. As the source of funds and the applicability of section 68 depended on a full transaction-level inquiry, the matter was set aside and remitted to the Assessing Officer for fresh adjudication. en-us Mon, 01 Jan 2024 00:00:00 +0530 Tue, 18 Jun 2024 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754185 Foreign remittance received from Singapore required factual verification before any addition under section 68 could stand. The assessee had produced the investment agreement, foreign inward remittance certificate, bank records and RBI permissions to support the receipt as investment, but the appellate enhancement was made without proper examination of that material. As the source of funds and the applicability of section 68 depended on a full transaction-level inquiry, the matter was set aside and remitted to the Assessing Officer for fresh adjudication. Case-Laws Income Tax Mon, 01 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754185