https://www.taxtmi.com/caselaws?id=375577 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) in a case concerning the addition of undisclosed investment under section 69 of the Income Tax Act. The partnership firm, formed after the land purchase, could not have made the investment, as it was attributed to the partners individually. The addition in the hands of the partnership firm was deemed unwarranted, and the Revenue's appeal was dismissed. The judgment clarified that no addition could be made in the firm's hands for investments made before its existence, even on a protective basis. en-us Fri, 15 Feb 2019 00:00:00 +0530 Thu, 21 Feb 2019 06:23:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375577 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) in a case concerning the addition of undisclosed investment under section 69 of the Income Tax Act. The partnership firm, formed after the land purchase, could not have made the investment, as it was attributed to the partners individually. The addition in the hands of the partnership firm was deemed unwarranted, and the Revenue's appeal was dismissed. The judgment clarified that no addition could be made in the firm's hands for investments made before its existence, even on a protective basis. Case-Laws Income Tax Fri, 15 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375577