https://www.taxtmi.com/caselaws?id=218000 The Tribunal allowed the appeal of the assessee, ruling in favor of the assessee and deleting the addition made by the Assessing Officer under section 68 of the Income Tax Act. The Tribunal followed the precedent set by the Hon'ble Gujarat High Court, stating that no addition can be made in the hands of the firm for fresh capital introduced by a partner unless the source of investment by the partner remains unexplained. en-us Fri, 05 Oct 2012 00:00:00 +0530 Tue, 30 Oct 2012 17:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218000 The Tribunal allowed the appeal of the assessee, ruling in favor of the assessee and deleting the addition made by the Assessing Officer under section 68 of the Income Tax Act. The Tribunal followed the precedent set by the Hon'ble Gujarat High Court, stating that no addition can be made in the hands of the firm for fresh capital introduced by a partner unless the source of investment by the partner remains unexplained. Case-Laws Income Tax Fri, 05 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218000