https://www.taxtmi.com/caselaws?id=768346 The ITAT Pune upheld unexplained investment additions under section 69 against the assessee, reversing the CIT(A)'s decision. The tribunal rejected the assessee's arguments based on criminal court proceedings, emphasizing that income tax proceedings operate under preponderance of probability rather than beyond reasonable doubt standard. The court held that seized incriminating material carries presumption of correctness under section 292C, which the assessee failed to rebut. The tribunal dismissed claims of natural justice violations regarding cross-examination opportunities and constitutional discrimination arguments. The additions were sustained based on finalized tribunal findings from earlier proceedings, with the revenue succeeding in both assessment years. en-us Thu, 10 Oct 2024 00:00:00 +0530 Thu, 03 Apr 2025 14:29:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768346 The ITAT Pune upheld unexplained investment additions under section 69 against the assessee, reversing the CIT(A)'s decision. The tribunal rejected the assessee's arguments based on criminal court proceedings, emphasizing that income tax proceedings operate under preponderance of probability rather than beyond reasonable doubt standard. The court held that seized incriminating material carries presumption of correctness under section 292C, which the assessee failed to rebut. The tribunal dismissed claims of natural justice violations regarding cross-examination opportunities and constitutional discrimination arguments. The additions were sustained based on finalized tribunal findings from earlier proceedings, with the revenue succeeding in both assessment years. Case-Laws Income Tax Thu, 10 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768346