https://www.taxtmi.com/caselaws?id=4460 The High Court upheld the Tribunal's decision to delete the addition of Rs. 1,28,27,860 as unexplained investments by the assessee. The Tribunal found that the burden of explanation regarding the investments lay with M.G. Enterprises, not the assessee, as affirmed by a sworn affidavit from M.G. Enterprises denying receipt of the sum. Due to insufficient evidence linking the investment to the assessee and the lack of rebuttal to M.G. Enterprises' denial, the Court affirmed the deletion of the addition. en-us Tue, 17 Jan 2006 00:00:00 +0530 Sun, 06 Feb 2011 02:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4460 The High Court upheld the Tribunal's decision to delete the addition of Rs. 1,28,27,860 as unexplained investments by the assessee. The Tribunal found that the burden of explanation regarding the investments lay with M.G. Enterprises, not the assessee, as affirmed by a sworn affidavit from M.G. Enterprises denying receipt of the sum. Due to insufficient evidence linking the investment to the assessee and the lack of rebuttal to M.G. Enterprises' denial, the Court affirmed the deletion of the addition. Case-Laws Income Tax Tue, 17 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4460