https://www.taxtmi.com/caselaws?id=794670 Addition under section 69 for alleged unexplained investment in immovable property was deleted where the assessee produced registered agreements, bank statements, receipts and audited balance sheets showing that the investments were made in earlier years and were recorded in the books. The original addition rested mainly on AIR information and non-compliance during assessment, but remand verification confirmed that the flats were purchased earlier and that the shop investment was also supported by records, with the higher AIR value reflecting registration-time valuation. On those findings, the source and timing of the investments were satisfactorily explained, and the revenue's challenge failed. en-us Thu, 25 Jun 2026 00:00:00 +0530 Thu, 09 Jul 2026 08:35:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794670 Addition under section 69 for alleged unexplained investment in immovable property was deleted where the assessee produced registered agreements, bank statements, receipts and audited balance sheets showing that the investments were made in earlier years and were recorded in the books. The original addition rested mainly on AIR information and non-compliance during assessment, but remand verification confirmed that the flats were purchased earlier and that the shop investment was also supported by records, with the higher AIR value reflecting registration-time valuation. On those findings, the source and timing of the investments were satisfactorily explained, and the revenue's challenge failed. Case-Laws Income Tax Thu, 25 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794670