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2012 (11) TMI 929 - HC - Income TaxAddition - unexplained cash credit - search - duplicate books of accounts were found and seized during the course of search from an ex-employee of such group – Held that:- Explanation was that it was received from Dr. Devdut who was residing at USA who brought gold in India and sold to meet the social obligations - substantive addition was already made in the hands of L.T. Shroff Group which had accepted ownership of the amount and paid tax - Tribunal has, therefore, rightly deleted the amount added by the Assessing Officer on protective basis in wake of substantive addition Addition on account of unexplained income of the assessee being the amount lying in the name of minor daughter of the assessee – Held that:- This was declared cash of the wife of the assessee at the time of permanent settlement in India after their migration from Pakistan - explanation accepted and addition deleted
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