https://www.taxtmi.com/caselaws?id=59478 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to reject the addition under s. 69C of the IT Act. The Tribunal emphasized the lack of concrete evidence linking the noting on a loose paper to actual expenditure by the deceased assessee. It highlighted the Revenue's failure to question the assessee during search operations and the disclosure of a substantial amount by the assessee, indicating satisfaction with the disclosed sum. The Tribunal held that the Revenue did not meet the burden of proof required to justify the addition, ultimately ruling in favor of the assessee. en-us Wed, 01 Jan 2003 00:00:00 +0530 Wed, 20 Jun 2012 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59478 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to reject the addition under s. 69C of the IT Act. The Tribunal emphasized the lack of concrete evidence linking the noting on a loose paper to actual expenditure by the deceased assessee. It highlighted the Revenue's failure to question the assessee during search operations and the disclosure of a substantial amount by the assessee, indicating satisfaction with the disclosed sum. The Tribunal held that the Revenue did not meet the burden of proof required to justify the addition, ultimately ruling in favor of the assessee. Case-Laws Income Tax Wed, 01 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59478