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2016 (5) TMI 528 - AT - Income TaxUnexplained investment u/s 69 - Held that:- The assessing officer is under an obligation to give reasons for not accepting the explanation so offered by the assessee in the present case the assessing officer has not come out with any corroborative evidence or cogent material to demonstrate that the assessee has actually expanded the amount towards the purchase of the land, more than what has been documented. Hence in our considered opinion the said transaction does not fall within the ambit of section 69 of the act. - Decided against revenue
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