https://www.taxtmi.com/caselaws?id=212383 The High Court upheld the Appellate Tribunal's decision to delete the addition of Rs.28,60,263 as unexplained investment in the purchase of raw material for the assessment year 2003-04. The Tribunal found the assessee's explanation satisfactory, noting that the undisclosed income was utilized for production and sale of finished goods, resulting in higher profits. The High Court dismissed the Revenue's appeal, stating that the Tribunal's decision was based on valid reasons and no substantial question of law arose, emphasizing the Tribunal's role as the highest fact-finding body in the matter. en-us Tue, 06 Sep 2011 00:00:00 +0530 Sun, 15 Apr 2012 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212383 The High Court upheld the Appellate Tribunal's decision to delete the addition of Rs.28,60,263 as unexplained investment in the purchase of raw material for the assessment year 2003-04. The Tribunal found the assessee's explanation satisfactory, noting that the undisclosed income was utilized for production and sale of finished goods, resulting in higher profits. The High Court dismissed the Revenue's appeal, stating that the Tribunal's decision was based on valid reasons and no substantial question of law arose, emphasizing the Tribunal's role as the highest fact-finding body in the matter. Case-Laws Income Tax Tue, 06 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212383