Investments made in foreign shares in the names of assessee’s minor daughters could be treated as unexplained investments u/s 69 of Income-tax Act, 1961
Core Issue:-The principal controversy before the Delhi Bench of the Income Tax Appellate Tribunal was whether investments made in foreign shares in the names of the assessee’s minor daughters could be treated as unexplained investments under section 69 of the Income-tax Act, 1961 merely on the allegation that no separate documentary evidence of source was … Read more