https://www.taxtmi.com/caselaws?id=762131 The ITAT Mumbai allowed the assessee's appeal against unexplained investment addition under Section 69 of the Income Tax Act. The assessee successfully substantiated the nature and source of investment amounts exceeding the sale consideration for property purchase, including incidental charges. The tribunal held that the assessee discharged the burden of proof required under the Act to explain the source of investment. Consequently, the tribunal directed the Assessing Officer to delete the addition made in the assessee's hands. en-us Mon, 07 Oct 2024 00:00:00 +0530 Tue, 26 Nov 2024 08:51:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762131 The ITAT Mumbai allowed the assessee's appeal against unexplained investment addition under Section 69 of the Income Tax Act. The assessee successfully substantiated the nature and source of investment amounts exceeding the sale consideration for property purchase, including incidental charges. The tribunal held that the assessee discharged the burden of proof required under the Act to explain the source of investment. Consequently, the tribunal directed the Assessing Officer to delete the addition made in the assessee's hands. Case-Laws Income Tax Mon, 07 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762131