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2018 (2) TMI 1695 - AT - Income TaxReopening of assessment - Unexplained investments addition made u/s 69 - Held that:- In the present case investments of jewellery is duly reflected in the books of accounts of the assesses. Therefore there is no scope of applying the provision of section 69. Apart from the above source of funds is evidenced by the payments from disclosed bank accounts. Therefore the source of investments is also properly and satisfactorily explained by the assesses. The additions made by the AO and confirmed by CIT(A) cannot be sustained and the same is directed to be deleted. - Decided in favour of assessee.
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