https://www.taxtmi.com/caselaws?id=221263 The High Court upheld the Tribunal's decision to delete the addition of Rs. 6,39,667 as unexplained investment in bank drafts under Section 69 of the Income Tax Act, 1961 for Assessment Year 1986-87. The Court accepted that the bank drafts were prepared after goods were sold on credit, negating the existence of any investment by the assessee. Emphasizing common trade practices, the Court dismissed the Revenue's appeal, concluding that the Tribunal's decision was legally sound. en-us Tue, 08 Jan 2013 00:00:00 +0530 Fri, 01 Mar 2013 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221263 The High Court upheld the Tribunal's decision to delete the addition of Rs. 6,39,667 as unexplained investment in bank drafts under Section 69 of the Income Tax Act, 1961 for Assessment Year 1986-87. The Court accepted that the bank drafts were prepared after goods were sold on credit, negating the existence of any investment by the assessee. Emphasizing common trade practices, the Court dismissed the Revenue's appeal, concluding that the Tribunal's decision was legally sound. Case-Laws Income Tax Tue, 08 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221263