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2010 (8) TMI 242 - HC - Income TaxUnexplained investment – Assessee purchasing demand drafts and remitting to a party - assessee also could not produce any evidence that the amount utilized in the purchase of those drafts was of any person other than the assessee - Assessing Officer made the addition on account of undisclosed investment as assessee could not establish that the drafts in question were invested in the business so this claim of the learned counsel for the assessee is also not acceptable that it was business loss or a capital loss - Assessing Officer rightly made the addition – Appeal dismissed
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