Anil Dhansukhlal v. ITO (2025) 211 ITD 236 (Rajkot)(Trib.)

S. 69 :Unexplained investments-Immoveable property-Non-Resident-Source of investment-Produced bank statement-Addition is deleted.

Assessee purchased immovable property vide allotment letter issued by a company for a consideration of certain amount. Assessing Officer made an addition on account of unexplained investment in purchase of immovable property under section 69. DRP also affirmed the addition. On appeal the Tribunal held that  the  Assessee had produced bank statement of his wife and that being an NRI account, credits appearing in bank account had also been properly explained by assessee. Addition is deleted. (AY. 2018-19)

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