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2011 (3) TMI 1015 - PUNJAB AND HARYANA HIGH COURTUnexplained investments - whether the amount of Rs. 33,00,000/- in respect of which the assessee had lodged an F.I.R. with the averments that he had paid that amount to one Parmod Khosla son of H.R. Khosla, resident of House No. 148, Sector 7, Ambala City, could be treated as income of the assessee under Section 69 of the Act - Held that:- It shall be upon the assessee to offer any plausible explanation either explaining the circumstances for disowning the contents of the F.I.R. or to substantiate that the amount allegedly paid was his accounted for money in the books of account, otherwise he would be liable for all repercussions flowing from such admission. In the absence of any satisfactory and plausible explanation from the ass - Decided against the assessee.
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