Bombay High Court Allows Appeal in Income Tax Case — HDPE Powder Found During Search Held Part of Recorded Stock, Not Unexplained Investment Under Section 69. Goods recorded in books of accounts as purchases and closing stock cannot be treated as unexplained investment under Section 69 of Income Tax Act, 1961.
17 Jan 2005The appellant-assessee, Babulal C. Borana, a dealer in HDPE plastic powder, filed an appeal under section 260A of the Income Tax Act, 1961 against the...




