https://www.taxtmi.com/caselaws?id=359306 The Tribunal allowed the appeal for statistical purposes, directing the AO to re-examine the documents and decide the issue in light of the Tribunal's observations. The Tribunal emphasized that mere non-appearance of directors or meager income cannot be grounds to disbelieve the investments if sufficient capital and reserves are shown in the balance sheets. The decision of the CIT(A) was partially upheld and partially set aside for fresh consideration. en-us Wed, 28 Feb 2018 00:00:00 +0530 Fri, 27 Apr 2018 08:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359306 The Tribunal allowed the appeal for statistical purposes, directing the AO to re-examine the documents and decide the issue in light of the Tribunal's observations. The Tribunal emphasized that mere non-appearance of directors or meager income cannot be grounds to disbelieve the investments if sufficient capital and reserves are shown in the balance sheets. The decision of the CIT(A) was partially upheld and partially set aside for fresh consideration. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359306