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2011 (12) TMI 172 - PUNJAB AND HARYANA HIGH COURTUnexplained Investment – Investment in capital account of partnership firm alleged to be out of undisclosed income – Held that:- There is no material to establish that amount received by the assessee, from partners in the said partnership firm, can be treated as assessee's undisclosed income. The Tribunal has also recorded that the partners are income tax assesses and the copies of balance sheet in the requisite details have been placed on record. The revenue authorities have not been able to rebut the correctness of such documents.- Decided against the Revenue.
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