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.

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)