https://www.taxtmi.com/caselaws?id=32193 The High Court dismissed the appeal challenging the addition under Section 69B of the Income Tax Act, 1961, regarding unexplained investment income. The Court upheld the Tribunal's decision to reduce the addition made by the Assessing Officer, emphasizing that the unexplained investment should be treated as income of the year in which it was made without the option of spreading it over multiple years. The Court found no substantial question of law raised and deemed the spreading of unexplained investments over several years impermissible under Section 69B. en-us Mon, 26 May 2008 00:00:00 +0530 Sat, 24 Jan 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32193 The High Court dismissed the appeal challenging the addition under Section 69B of the Income Tax Act, 1961, regarding unexplained investment income. The Court upheld the Tribunal's decision to reduce the addition made by the Assessing Officer, emphasizing that the unexplained investment should be treated as income of the year in which it was made without the option of spreading it over multiple years. The Court found no substantial question of law raised and deemed the spreading of unexplained investments over several years impermissible under Section 69B. Case-Laws Income Tax Mon, 26 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32193