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.

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)