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2017 (3) TMI 577 - AT - Income TaxDisallowance of investment as from undisclosed sources - Held that:- CIT-A in the instant case has not formed any firmed opinion that it was the assessee money invested in the mutual fund through his relatives. The ld. CIT-A has just sustained the addition on the possibility of assessee money used in the impugned investment. In our view the addition cannot sustain on the basis of surmise & conjecture. Hence, we reverse the order of Ld. CIT(A) and this ground of assessee’s appeal is allowed.
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