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2005 (12) TMI 63 - HC - Income TaxUnexplained Investment – held that even if the presumption available under section 132(4A) of the Act can be raised against the asses-see, the ingredients, by way of prerequisite conditions, of section 69 of the Act have to be satisfied and cannot be presumed to have been established on the basis of section 132(4A) of the Act simpliciter - Tribunal was not justified in remanding the matter to the Commissioner (Appeals). It was necessary for the Tribunal to have dealt with the applicability of the provisions of section 69 together with the provisions of section 132(4A) of the Act after dealing with the reasons given by the Commissioner (Appeals) instead of recording "we are also at a loss to understand as to what to do with the issue at hand" as recorded in paragraph No. 20 of the impugned order - question referred is therefore answered in the negative, i.e., in favour of the assessee and against the Revenue.
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