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2012 (10) TMI 122 - ITAT, DELHIAddition on account of unexplained investment u/s 69 – On basis of bank statement – Assessee replied that some money is received on account of retirement - Loan from friends & relatives - AO stated that no. of person withdrawn money from assessee’s bank account - Assessee made frequent deposits/withdrawals in the bank to show a rosy picture for obtaining visa – Held that:- AO failed to examine these person as to why the amount was withdrawn by them. Since,Therefore issue has not been examined properly. Decision case remand back to AO. Disallowance of deduction u/s 80C – Whether deduction under sec. 80C is claimed for renovation of house – Held that:- As the provisions of sec.80C are not applicable in respect of amount spent on renovation. Appeal decide in favour of revenue
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