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2013 (7) TMI 658 - MADRAS HIGH COURTUnexplained investments - Name of parties to whom money advanced not disclosed at time of assessment - Tribunal deleted holding that assessee had produced materials regarding the income tax details of the parties and their addresses - Held that:- assessee had not explained the source for making the deposits as well as the loans and liabilities and some of the parties whose names were given as owing amounts to the assessee had denied having any transaction with the assessee but only with Raja music Universal wherein the assessee was the managing partner, the mere filing of details of creditors, per se, would not be a good ground to allow the appeal filed by the assessee. If the Appellate Authority felt that on the furnishing of any fresh material, the case demanded a fresh enquiry, the Appellate Authority should have remanded the matter by directing the Assessing Officer to make enquiry on the documents filed and pass orders - Assessment to A.O. Decided in favour of Revenue.
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