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2024 (3) TMI 250 - ITAT DELHIAddition on account of foreign currency found during the course of search treating the same as unaccounted income in the hands of the assessee - HELD THAT:- There is no dispute that the foreign currencies were found from the possession of Vikram Bajaj, which is also not in dispute that in the proceedings of Vikram Bajaj, identical query was raised, wherein the explanation was furnished by the Vikram Bajaj and accepted by the AO. It is also true that small amount of foreign currency were found which appears to be remnants of foreign travel undertaken by the family members of the Group. The currencies are leftovers of the business trips. Even if we agree with these facts and explanations of remnants and leftovers, even then the onus is on the assessee to furnish evidences. Assessee has furnished before us, the evidence for the purchase of foreign currency from M/s Bakshi Forex & Air Services (P) Ltd. The invoices pertain to the years 2012, 2013 and 2014 which are mainly for the US Dollar and Euro whereas the Panchnama shows currencies as Yuan, Hongkong Dollar, Rupaiya, Turkish Lira, Pound, Dinar and Bahat. The invoices produced before us would do no good to the assessee. We decline to interfere with the findings of the CIT(A). Appeal of the assessee is dismissed.
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