https://www.taxtmi.com/caselaws?id=56405 The tribunal upheld the addition of estimated household expenses and funds to total income for land purchase, dismissing the appeals due to lack of credible evidence and suspicious circumstances. The tribunal found the initial expenses declared unreasonably low, justifying the addition of estimated household expenses. Additionally, the lack of evidence to prove the genuineness of loans and ownership of the land led to the confirmation of funds added to total income for the land purchase. The tribunal emphasized the burden on the assessee to establish the legitimacy of transactions, ultimately supporting the decisions of the lower authorities. en-us Tue, 31 Jan 1995 00:00:00 +0530 Tue, 13 Sep 2016 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56405 The tribunal upheld the addition of estimated household expenses and funds to total income for land purchase, dismissing the appeals due to lack of credible evidence and suspicious circumstances. The tribunal found the initial expenses declared unreasonably low, justifying the addition of estimated household expenses. Additionally, the lack of evidence to prove the genuineness of loans and ownership of the land led to the confirmation of funds added to total income for the land purchase. The tribunal emphasized the burden on the assessee to establish the legitimacy of transactions, ultimately supporting the decisions of the lower authorities. Case-Laws Income Tax Tue, 31 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56405