https://www.taxtmi.com/caselaws?id=781266 ITAT Ahmedabad (AT) dismissed the Revenue's appeal against an addition under s.69 for alleged unexplained investments in time deposits by an exempt university under s.10(23C)(iiiab). The Tribunal held the AO relied only on transactional data from the Insight Portal and Form 26AS without direct evidence or bank verification, while the assessee produced SBI confirmation, bank statements and ledger extracts showing no such FDs. As the AO neither proved the investments nor rebutted the assessee's explanation, the addition was deleted. en-us Thu, 09 Oct 2025 00:00:00 +0530 Thu, 13 Nov 2025 08:14:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781266 ITAT Ahmedabad (AT) dismissed the Revenue's appeal against an addition under s.69 for alleged unexplained investments in time deposits by an exempt university under s.10(23C)(iiiab). The Tribunal held the AO relied only on transactional data from the Insight Portal and Form 26AS without direct evidence or bank verification, while the assessee produced SBI confirmation, bank statements and ledger extracts showing no such FDs. As the AO neither proved the investments nor rebutted the assessee's explanation, the addition was deleted. Case-Laws Income Tax Thu, 09 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781266