https://www.taxtmi.com/caselaws?id=21197 The court quashed the revisional order concerning deemed dividend and unexplained investment, directing a reevaluation by the first respondent. The petitioner's explanation regarding the Rs. 1,20,000 received from the company as a loan repayment was not adequately verified, emphasizing the importance of proper verification and evidence before classifying transactions. The court highlighted the need for a fair opportunity for the petitioner to present their case and instructed a reevaluation focusing on transaction nature and verification. en-us Wed, 24 Jun 1992 00:00:00 +0530 Fri, 20 Nov 2009 16:53:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21197 The court quashed the revisional order concerning deemed dividend and unexplained investment, directing a reevaluation by the first respondent. The petitioner's explanation regarding the Rs. 1,20,000 received from the company as a loan repayment was not adequately verified, emphasizing the importance of proper verification and evidence before classifying transactions. The court highlighted the need for a fair opportunity for the petitioner to present their case and instructed a reevaluation focusing on transaction nature and verification. Case-Laws Income Tax Wed, 24 Jun 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21197