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2014 (9) TMI 1025 - AT - Income TaxAddition u/s. 69 - Held that:- Admittedly, assessees have made investments in fixed assets and the source of such investments was the inflow available on the Liability Side of the Balance Sheet. Since the Assessing Officer has not properly appreciated the facts, before the learned CIT(A), the source was explained, and the same was accepted by the learned CIT(A). Having accepted the source of funds, there cannot be any addition made in this year and even in the subsequent year, i.e. in the year of sale, the source of investment cannot be disputed. Therefore, the learned CIT(A) is not justified in giving direction to the Assessing Officer to consider the source of investment in the year of sale. In these circumstances, we set aside the directions of the learned CIT(A) and hold that it is not a fit case for making the addition under S.69. See M/s. Manas Greenland Pvt. Ltd., Hyderabad Versus Income Tax Officer (OSD) [2014 (12) TMI 399 - ITAT HYDERABAD ] - Decided in favour of assessee
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