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2021 (4) TMI 380 - AT - Income TaxUnexplained investment - HELD THAT:- Assessee has duly discharged the obligation by furnishing the necessary evidence about the source of fund used in making the investment in the securities. In this connection, the learned AR has filed the bank statement, copy of the ITR, Identity proof. The assessee was not under the obligation to justify the source of source in the given facts and circumstances. Had the revenue any doubt on the source of funds in the hands of the husband, the revenue could have proceeded against the husband of the assessee. In other words, the assessee was not answerable based on the documentary evidence about the source of money in the hands of the husband. From the above, the assessee was to justify the source of investments made in the securities which has been duly explained. Therefore, the question about the source of fund in the hands of the husband cannot raised from the assessee at the stage. We hold that the assessee has discharged her duty by disclosing the source of fund in the investment of securities. Accordingly, there cannot be any addition to the total income of the assessee. Hence, we set aside the finding of the learned CIT(A) and direct the AO to delete the addition made by him. Thus the ground and additional ground of appeal of the assessee is allowed.
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