https://www.taxtmi.com/caselaws?id=464971 ITAT Chennai dismissed the revenue's appeals and upheld the CIT(A)'s deletion of additions made as unexplained investment u/s 69. The AO had relied solely on a loose sheet (image from the assessee's mobile) showing figures differing from the registered sale deed, treating it as evidence of on-money. ITAT held that the loose sheet was incomplete, lacked any indication of actual or extra consideration paid, and was unsupported by corroborative material such as agreements, seller admissions, or receipts. As the assessee provided plausible explanations and confirmations from sellers, the onus shifted to the AO, who failed to disprove them. en-us Tue, 03 Dec 2024 00:00:00 +0530 Thu, 27 Nov 2025 14:03:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464971 ITAT Chennai dismissed the revenue's appeals and upheld the CIT(A)'s deletion of additions made as unexplained investment u/s 69. The AO had relied solely on a loose sheet (image from the assessee's mobile) showing figures differing from the registered sale deed, treating it as evidence of on-money. ITAT held that the loose sheet was incomplete, lacked any indication of actual or extra consideration paid, and was unsupported by corroborative material such as agreements, seller admissions, or receipts. As the assessee provided plausible explanations and confirmations from sellers, the onus shifted to the AO, who failed to disprove them. Case-Laws Income Tax Tue, 03 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464971