Dismissing the appeal of the Revenue the Court held that the investment was financed by bank which was explained at stage of assessment and recorded in account books. Order of Tribunal affirmed. (AY. 2004-05 to 2010-11)
PCIT v. Inland Road Transport Ltd. (2022) 286 Taxman 613 (Cal.)(HC)
S. 69 : Unexplained investments-Recorded in the books of account-Deletion of addition is held to be valid.