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2015 (8) TMI 646 - AT - Income TaxUnexplained investment under section 69 - Held that:- Before us the assessee could not reconcile the difference between purchases as debited in the trading account and purchases as per TCS certificate. Even the assessee could not produce books of account and clearly admitted that the assessee being a trader in Indian made foreign liquor does not maintain books of account. There is clear cut difference in the purchases and unaccounted purchases in both years could not be explained nor accounted for. The CIT (A) has rightly confirmed the addition as the assessee could not explain even now before us or could not reconcile the difference. In term of the above, we confirm the order of the Commissioner of Income-tax (Appeals) in confirming the action of the Assessing Officer in treating the same as undisclosed purchases added under section 69 of the Act. - Decided in favour of revenue.
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