Corporate TaxArticle·28 September 2026
ITAT says Section 69 Cannot Apply to a Recorded Investment
By J the App
Executive Summary
The assessee's land investment was disclosed in the financial statements, although the Assessing Officer questioned its source. ITAT held that an unsatisfactory explanation of source does not convert a recorded investment into an unexplained investment under Section 69, and deleted the ₹1.27 crore addition.
Domain | Corporate tax | DT
The Position
Section 69 requires the i...
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