https://www.taxtmi.com/caselaws?id=469927 An addition for alleged on-money payment on purchase of immovable property was deleted because it was founded only on a third-party statement recorded in search proceedings, without effective cross-examination and without independent corroborative material. The Tribunal held that where the Revenue relies on a statement to allege undisclosed investment, it must give the assessee a fair opportunity to test that evidence and must also bring supporting material on record. A bare, unverified statement was insufficient to sustain the addition, and the substantive challenge succeeded; the remaining grounds were not pressed. en-us Wed, 27 Mar 2024 00:00:00 +0530 Thu, 09 Jul 2026 15:03:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469927 An addition for alleged on-money payment on purchase of immovable property was deleted because it was founded only on a third-party statement recorded in search proceedings, without effective cross-examination and without independent corroborative material. The Tribunal held that where the Revenue relies on a statement to allege undisclosed investment, it must give the assessee a fair opportunity to test that evidence and must also bring supporting material on record. A bare, unverified statement was insufficient to sustain the addition, and the substantive challenge succeeded; the remaining grounds were not pressed. Case-Laws Income Tax Wed, 27 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469927