98 ITR 280. CIT vs. Dr. S. Bharti 254 ITR 261 (Del) (b) CIT v. N. Swamy (Madras High Court)

Asst CIT 25(3), Mumbai vs. Rajul V. Vora, Mumbai

In the result, appeal of the Revenue is dismissed

Bench: Shri G.S. Pannu & Shri Ram Lal Negi: A.Y : 2012-13

…stand in the eyes of law. Information of investment is good reason for making investigation but A.O. did not carry out any work while independent inquiry and merely completed the assessment on AIR Report. 5.14 In the case of Raj Pal Singh Ram Autar vs. ITO (39 TTJ 544) Delhi Tribunal held that before invoking the provisions of Section 69, it will be necessary to ensure the fulfillment of all the conditions precedent as to the existence of such unexplained investment. The provisions can be invoked only if it is factually found that the assessee had made Investment in the business and the assessee and none else w…