https://www.taxtmi.com/caselaws?id=151429 The Tribunal upheld the Commissioner's decision to delete the Rs. 23.80 lakh addition under section 69 for unexplained investments, as the evidence showed the shares belonged to Shri Gian Gupta and Smt. Usha Gupta, not the assessee. The loans raised against these shares were utilized by the actual owners, not the assessee, who was deemed an employee. The Revenue's appeal was dismissed on December 4, 2009, as there was no proof of unaccounted money used for investments, affirming the deletion of the addition. en-us Fri, 04 Dec 2009 00:00:00 +0530 Wed, 05 Jun 2013 17:27:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151429 The Tribunal upheld the Commissioner's decision to delete the Rs. 23.80 lakh addition under section 69 for unexplained investments, as the evidence showed the shares belonged to Shri Gian Gupta and Smt. Usha Gupta, not the assessee. The loans raised against these shares were utilized by the actual owners, not the assessee, who was deemed an employee. The Revenue's appeal was dismissed on December 4, 2009, as there was no proof of unaccounted money used for investments, affirming the deletion of the addition. Case-Laws Income Tax Fri, 04 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151429