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2023 (1) TMI 626 - AT - Income TaxUnexplained investment - statement recorded on oath u/s 132(4) - document was found and seized from the premises of the husband of the assessee - HELD THAT:- When at the very first moment of search proceedings the assessee has categorically admitted that payment was done by her husband and on the very same moment, the husband also admitted that he has made the payment, then it can be safely concluded that the wife, i.e. the assessee, has successfully discharged the onus cast upon her to explain the source of investment of Rs. 68 lakhs. In so far as the husband of the assessee is concerned, the Revenue was/is free to take any action as per the provisions of law. Considering the facts of the case in totality, addition of Rs. 68 lakhs is not sustainable in the hands of the assessee and the Assessing Officer is directed to delete the same. - Decided in favour of assessee.
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