https://www.taxtmi.com/caselaws?id=180443 The Tribunal deleted the addition of Rs. 8,50,000 under section 68 of the IT Act, finding that capital contributions made by partners before business commencement should be considered in the hands of individual partners, not the assessee. The Court upheld the Tribunal's decision, determining that unexplained credits should be added to the income of the partners under section 69, not section 68. The appeal by the Revenue was dismissed, with no costs awarded, as no substantial question of law arose for the Court's consideration. en-us Mon, 12 Jan 2009 00:00:00 +0530 Fri, 25 Mar 2016 11:06:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180443 The Tribunal deleted the addition of Rs. 8,50,000 under section 68 of the IT Act, finding that capital contributions made by partners before business commencement should be considered in the hands of individual partners, not the assessee. The Court upheld the Tribunal's decision, determining that unexplained credits should be added to the income of the partners under section 69, not section 68. The appeal by the Revenue was dismissed, with no costs awarded, as no substantial question of law arose for the Court's consideration. Case-Laws Income Tax Mon, 12 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180443