https://www.taxtmi.com/caselaws?id=70876 The Tribunal allowed the appeal, directing the deletion of the addition made by the Assessing Officer for undisclosed investments in a promissory note. The Tribunal found that the promissory notes were incomplete documents and mere proposals, not conclusive evidence of investment. The affidavit provided by the director of the company mentioned in the promissory notes was considered legal and cogent evidence. Therefore, the addition under section 69 of the IT Act was deemed unsustainable, resulting in a favorable outcome for the assessee. en-us Fri, 07 Jan 2005 00:00:00 +0530 Tue, 19 Apr 2011 17:51:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70876 The Tribunal allowed the appeal, directing the deletion of the addition made by the Assessing Officer for undisclosed investments in a promissory note. The Tribunal found that the promissory notes were incomplete documents and mere proposals, not conclusive evidence of investment. The affidavit provided by the director of the company mentioned in the promissory notes was considered legal and cogent evidence. Therefore, the addition under section 69 of the IT Act was deemed unsustainable, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Fri, 07 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70876