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2011 (12) TMI 244 - HC - Income TaxUnexplained Investment – Investment in capital account of partnership firm alleged to be out of undisclosed income – Held that:- The Tribunal has affirmed order of CIT wherein it has been recorded that the five persons were the genuine partners, in view of the fact that all such persons have filed their income tax returns. Thus, addition made as investment from the undisclosed sources is not sustainable. The findings recorded by the Tribunal on the basis of Varinder Singh's case have been affirmed by Court - Decided against the Revenue.
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