Addition u/s 69 not sustainable in absence of any proof of investment by assesse: HC

Brief of the Case Delhi High Court held In the case of CIT vs. Provestment Securities Pvt. Ltd. that we are inclined to agree with the Tribunal that the question whether an investment had been made or not is a matter of fact and the same cannot be presumed. In the present case, it is probable that either the Assesses or any other person related to the assesses would have paid for acquiring the vehicle in question. An investigation into the sources of the funds may perhaps have established a link between the funds used for the purchase of the vehicle and the Assesses. However, no such link has...