https://www.taxtmi.com/highlights?id=87153 ITAT upheld the AO's addition under Section 69 as unexplained investment, rejecting the assessee's contentions. The tribunal found that the seized incriminating material carried a presumption of correctness under Section 292C of the Income Tax Act. The proceedings were governed by preponderance of probability, not criminal standard of proof beyond reasonable doubt. The assessee's arguments regarding criminal court proceedings and natural justice were dismissed. The tribunal emphasized that the Income Tax Act is a complete code, and the department's findings were based on conclusive evidence. The impugned additions for multiple assessment years were sustained, with the decision rendered in favor of the revenue. en-us Sat, 05 Apr 2025 08:23:36 +0530 Sat, 05 Apr 2025 08:23:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=87153 ITAT upheld the AO's addition under Section 69 as unexplained investment, rejecting the assessee's contentions. The tribunal found that the seized incriminating material carried a presumption of correctness under Section 292C of the Income Tax Act. The proceedings were governed by preponderance of probability, not criminal standard of proof beyond reasonable doubt. The assessee's arguments regarding criminal court proceedings and natural justice were dismissed. The tribunal emphasized that the Income Tax Act is a complete code, and the department's findings were based on conclusive evidence. The impugned additions for multiple assessment years were sustained, with the decision rendered in favor of the revenue. Highlights Income Tax Sat, 05 Apr 2025 08:23:36 +0530 https://www.taxtmi.com/highlights?id=87153