Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (7) TMI 332 - ITAT RAJKOTUnexplained investment u/s 69 - appellant failed to explain the source of opening capital - HELD THAT:- CIT(Appeals) has given part relief to the assessee on a purely ad-hoc basis, without controverting the genuineness of the documents placed on record by the assessee in support of his claim that the opening balance is out of past savings. We are inclined to take the view that the assessee has been able to place on record sufficient evidence to support his case that the opening balance of ₹ 10,01,133/- is out of past savings of the assessee, and hence the addition made by the Ld. CIT(Appeals) is hereby set aside. - Decided in favour of assessee.
|