https://www.taxtmi.com/caselaws?id=761878 ITAT Jaipur allowed the appeal, setting aside additions made under section 69 regarding unsecured loan and property purchase. The tribunal held that since the transaction with broker agency was already reflected in statements and no action was taken on the husband's return, it couldn't be considered incriminating material discovered during search operations. For the property sale addition of Rs. 92,700, the tribunal found the assessee had sufficient capacity to make payment based on declared income over previous years, making the addition unjustified. en-us Wed, 23 Oct 2024 00:00:00 +0530 Tue, 19 Nov 2024 08:40:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761878 ITAT Jaipur allowed the appeal, setting aside additions made under section 69 regarding unsecured loan and property purchase. The tribunal held that since the transaction with broker agency was already reflected in statements and no action was taken on the husband's return, it couldn't be considered incriminating material discovered during search operations. For the property sale addition of Rs. 92,700, the tribunal found the assessee had sufficient capacity to make payment based on declared income over previous years, making the addition unjustified. Case-Laws Income Tax Wed, 23 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761878