https://www.taxtmi.com/caselaws?id=765736 ITAT Rajkot allowed the assessee's appeal against addition under section 69 for unexplained investment in immovable property. The tribunal found that the assessee submitted all relevant documents and evidence to the AO and DRP, but these were rejected without proper reasoning. The court held that when an assessee provides all possible evidence supporting their claim, it cannot be dismissed based on mere surmises. Additionally, since the property was purchased in 2010 but addition was made in AY 2018-19, no section 69 addition could be made for investment in earlier years. The tribunal deleted the addition entirely. en-us Fri, 10 Jan 2025 00:00:00 +0530 Sat, 08 Feb 2025 09:12:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765736 ITAT Rajkot allowed the assessee's appeal against addition under section 69 for unexplained investment in immovable property. The tribunal found that the assessee submitted all relevant documents and evidence to the AO and DRP, but these were rejected without proper reasoning. The court held that when an assessee provides all possible evidence supporting their claim, it cannot be dismissed based on mere surmises. Additionally, since the property was purchased in 2010 but addition was made in AY 2018-19, no section 69 addition could be made for investment in earlier years. The tribunal deleted the addition entirely. Case-Laws Income Tax Fri, 10 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765736