https://www.taxtmi.com/caselaws?id=176426 The appeal was partially allowed by the HC. The court set aside the Tribunal's decision to delete the addition of Rs. 3,88,000 under Section 69 of the IT Act, thereby restoring the findings of the AO and CIT(A) that the investment was unexplained. However, the HC upheld the Tribunal's dismissal of the Department's appeal regarding Section 40A(3), agreeing that the provision was not applicable as the assessee did not claim the amounts as deductions in the trading account. en-us Wed, 23 Apr 2008 00:00:00 +0530 Fri, 15 Dec 2023 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176426 The appeal was partially allowed by the HC. The court set aside the Tribunal's decision to delete the addition of Rs. 3,88,000 under Section 69 of the IT Act, thereby restoring the findings of the AO and CIT(A) that the investment was unexplained. However, the HC upheld the Tribunal's dismissal of the Department's appeal regarding Section 40A(3), agreeing that the provision was not applicable as the assessee did not claim the amounts as deductions in the trading account. Case-Laws Income Tax Wed, 23 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176426