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2014 (12) TMI 399 - AT - Income TaxExpenses on fixed assets made to be treated as unexplained investments or not u/s 69 - Held that:- 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 CIT(A), the source was explained, and it was accepted by the 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 - the CIT(A) is not justified in giving direction to the AO to consider the source of investment in the year of sale – thus, the order of the CIT(A) is set aside and it is not a fit case for making the addition u/s 69 of the Act – decided in favour of assessee.
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