https://www.taxtmi.com/highlights?id=62929 Unexplained investment - Assessee has brought on record certain evidence before the AO - the Assessing Officer ought to have investigated from both the parties for verifying the veracity of the transaction. The assessee has discharged its primary burden by furnishing the source of the investment. Under these facts it was open to Assessing Authority to make further investigation. In the absence of bringing any adverse material regarding creditworthiness of the Director and genuineness of the transaction addition made and sustained by the learned CIT(Appeals) is not justified - AT en-us Fri, 15 Apr 2022 12:46:21 +0530 Fri, 15 Apr 2022 12:46:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62929 Unexplained investment - Assessee has brought on record certain evidence before the AO - the Assessing Officer ought to have investigated from both the parties for verifying the veracity of the transaction. The assessee has discharged its primary burden by furnishing the source of the investment. Under these facts it was open to Assessing Authority to make further investigation. In the absence of bringing any adverse material regarding creditworthiness of the Director and genuineness of the transaction addition made and sustained by the learned CIT(Appeals) is not justified - AT Highlights Income Tax Fri, 15 Apr 2022 12:46:21 +0530 https://www.taxtmi.com/highlights?id=62929