https://www.taxtmi.com/caselaws?id=3401 The High Court upheld the Tribunal's decision to cancel additions of Rs.1,35,000/- and Rs.14,645 to the income of the assessee. The Tribunal found that the seized paper did not belong to the assessee or its partners, and the Department failed to prove unexplained investments. The Tribunal considered the rebuttal of the presumption under Section 132(4A) and deemed the explanations credible, ruling in favor of the assessee against the Revenue. en-us Tue, 29 Mar 2005 00:00:00 +0530 Mon, 28 Jul 2008 18:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3401 The High Court upheld the Tribunal's decision to cancel additions of Rs.1,35,000/- and Rs.14,645 to the income of the assessee. The Tribunal found that the seized paper did not belong to the assessee or its partners, and the Department failed to prove unexplained investments. The Tribunal considered the rebuttal of the presumption under Section 132(4A) and deemed the explanations credible, ruling in favor of the assessee against the Revenue. Case-Laws Income Tax Tue, 29 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3401