https://www.taxtmi.com/caselaws?id=448205 ITAT Panaji upheld AO's invocation of sections 69 and 69A for unrecorded investment in 5246.335 gms gold and 16.3793 kg silver, plus excess cash found during survey. Assessee failed to provide satisfactory explanation for these investments not recorded in books. ITAT confirmed application of section 115BBE for tax calculation and disallowed partner's salary deduction on unexplained investments. All grounds of appeal dismissed, supporting AO's assessment of deemed income from unexplained investments. en-us Mon, 08 Jan 2024 00:00:00 +0530 Sat, 13 Jan 2024 08:36:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448205 ITAT Panaji upheld AO's invocation of sections 69 and 69A for unrecorded investment in 5246.335 gms gold and 16.3793 kg silver, plus excess cash found during survey. Assessee failed to provide satisfactory explanation for these investments not recorded in books. ITAT confirmed application of section 115BBE for tax calculation and disallowed partner's salary deduction on unexplained investments. All grounds of appeal dismissed, supporting AO's assessment of deemed income from unexplained investments. Case-Laws Income Tax Mon, 08 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448205