Held that the assessee discharged the burden by producing bank statement and source of investment. Investment by managing director. Addition is held to be not valid. (AY.2010-11, 2011-12)
TCI Constructions Ltd. v. Dy. CIT (2021) 87 ITR 45 (SN) (Hyd.)(Trib.)
S. 68 : Cash credits-Shares allotted-Investment by managing director-Discharged the burden-Addition held to be not valid.