Tribunal Rules Firm Not Liable for Partner Capital Source Under Sec 68; Burden Shifts to Partners for Explanation.

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....Addition u/s 68 in the hands of partnership firm - capital introduced by five partners, which in turn was out of the loan advanced - The Appellate Tribunal (AT) examined the arguments and evidence presented by both parties. It held that the responsibility of the firm ends once it provides satisfactory evidence regarding the introduction of capital by its partners. The Tribunal cited precedents where it was established that once the partner invests capital, the burden shifts to that individual to explain the source of the investment. Therefore, the Tribunal directed the deletion of the addition made by the AO.....