High Court Rules Section 69 Unjustified Without Proof of Unrecorded Investments in Taxpayer's Books. No Explanation Required.

Addition u/s 69 - unless it is first established beyond doubt that there is an investment which is not recorded by the Assessee in its books, no occasion to explain about the nature and source of the investment can arise - The invocation of Section 69 of the Act before establishing investment not recorded in its books of Account, is not justified - HC .....

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