ITAT was justified in deleting sec. 69B additions in the hands of partner based on capital shown in firm's accounts

INCOME TAX : Where on basis of certain loose sheets found during course of search upon firms in which assessee was a partner, Assessing Officer made addition of Rs. 85.60 lakhs to assessee’s income on account of undisclosed investment, since capital account of said firms showed that assessee had introduced capital of Rs. 60 lakhs in these firms, however, assessee failed to give any account for remaining amount of unaccounted investment of Rs. 22.60 lakhs, Tribunal was justified in deleting addit

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