https://www.taxtmi.com/caselaws?id=762659 ITAT Delhi dismissed Revenue's appeal against CIT(A)'s deletion of addition under section 69 for unexplained investment. The addition was based solely on post-dated cheques recovered from assessee's possession, which were issued against cash payments for property acquisitions. ITAT held that additions cannot be made purely on conjecture or post-dated cheques without establishing nexus to undisclosed income. Since AO failed to controvert assessee's explanation or establish link between cheques and unexplained income, the deletion was upheld following coordinate bench precedent. en-us Tue, 24 Sep 2024 00:00:00 +0530 Wed, 04 Dec 2024 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762659 ITAT Delhi dismissed Revenue's appeal against CIT(A)'s deletion of addition under section 69 for unexplained investment. The addition was based solely on post-dated cheques recovered from assessee's possession, which were issued against cash payments for property acquisitions. ITAT held that additions cannot be made purely on conjecture or post-dated cheques without establishing nexus to undisclosed income. Since AO failed to controvert assessee's explanation or establish link between cheques and unexplained income, the deletion was upheld following coordinate bench precedent. Case-Laws Income Tax Tue, 24 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762659