Addition of opening capital as unexplained investment u/s 69 - income from undisclosed sources - The...

Addition of opening capital as unexplained investment u/s 69 - income from undisclosed sources - The Tribunal held that for such an addition to be justified, the Assessing Officer must provide a concrete rationale for not accepting the disclosed sources of income, which was not done in this case. This decision reinforces the principle that tax authorities must adhere to strict standards of evidence and rationale when alleging undisclosed income. .....

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