2016 (10) TMI 1419

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....ed by the assessee against the order of CIT(A) for assessment 1989-1990, in the matter of order passed u/s. 143 r.w.s. 254 of I.T. Act. 2. Ground No.1 was not pressed, the same is, therefore, dismissed in limine. 3. Ground No.2 relates to addition of Rs. 7,01,046/- on account of unexplained investment in shares and business of the company. 4. From the record we found that addition was mad....

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.... more than the shares sent to the respective companies. In respect of three companies, there is short holding as per the books of account of the assessee. In the case of Annapurna Foils, the short holding is 750 shares, in respect of Laxmi Precision; the short holding is 1000 shares and in the case of Mukund limited, the short holding is 20 shares. The Revenue has not gone in appeal against the or....