https://www.taxtmi.com/caselaws?id=466183 Unexplained investment in purchase of agricultural land was challenged on grounds of cash payment despite registry noting a post-dated cheque; the payment was reflected in bank records and in the assessees books. The reasoning emphasises that the income used for the investment is recorded in the books of account and was not treated as unexplained by the revenue, therefore the investment cannot be treated as unexplained investment under section 69 when the underlying credit was not disallowed. Any addition, if at all justified, should target unexplained credit rather than an investment duly recorded and made from credited funds, resulting in allowance of the taxpayers appeal. en-us Wed, 12 Feb 2025 00:00:00 +0530 Wed, 28 Jan 2026 13:57:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466183 Unexplained investment in purchase of agricultural land was challenged on grounds of cash payment despite registry noting a post-dated cheque; the payment was reflected in bank records and in the assessees books. The reasoning emphasises that the income used for the investment is recorded in the books of account and was not treated as unexplained by the revenue, therefore the investment cannot be treated as unexplained investment under section 69 when the underlying credit was not disallowed. Any addition, if at all justified, should target unexplained credit rather than an investment duly recorded and made from credited funds, resulting in allowance of the taxpayers appeal. Case-Laws Income Tax Wed, 12 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466183