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2021 (8) TMI 860 - ITAT MUMBAIAddition u/s 68 - un-explained credit - HELD THAT:- We direct the AO to first verify from the accounts of the assessee and other details, whether this amount of ₹ 1,53,75,769/- has been received prior to 31.03.2008 or not. In case this amount received prior to 31.03.2008, no addition for this amount will be made. In case, this amount received in this year then the assessee will again explain in entirety with evidence before the AO. For remaining amount the assessee will explain with evidence to meet with the conditions of section 68 of the Act. To this proposition both agreed, the learned DR as well as the learned Counsel for the assessee. In term of the above, the matter is set aside and restore to the file of the Assessing Officer. Appeal of the assessee is allowed for statistical purposes.
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