https://www.taxtmi.com/caselaws?id=459691 The ITAT Hyderabad allowed the assessee's appeal for statistical purposes regarding an assessment order under sections 147 and 144. The assessee had failed to provide verifiable sources for property investment, and the DRP sustained the addition due to lack of evidence regarding loan crediting and payment dates. However, the assessee subsequently obtained documents from PHFL and Bank of Baroda following DHFL's insolvency proceedings. The ITAT held that additional evidence from proper custody should be admitted, directing the Assessing Officer to verify the documents and take a plausible view, as a meritorious case should not be dismissed without proper opportunity. en-us Thu, 11 May 2023 00:00:00 +0530 Mon, 23 Dec 2024 20:05:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459691 The ITAT Hyderabad allowed the assessee's appeal for statistical purposes regarding an assessment order under sections 147 and 144. The assessee had failed to provide verifiable sources for property investment, and the DRP sustained the addition due to lack of evidence regarding loan crediting and payment dates. However, the assessee subsequently obtained documents from PHFL and Bank of Baroda following DHFL's insolvency proceedings. The ITAT held that additional evidence from proper custody should be admitted, directing the Assessing Officer to verify the documents and take a plausible view, as a meritorious case should not be dismissed without proper opportunity. Case-Laws Income Tax Thu, 11 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459691