Tribunal held that there was no adverse material available on record relating to exports made by assessee. In absence of any material or evidence on record to disprove exports made by assessee, it was held that export was made by assessee in his proprietorship concern and there was no justification for making an addition as undisclosed export proceeds.Addition is held to be not justified without giving an opportunity of cross examination . (BP.1-4-1989 to 14-07-1999)
Arun Malhotra. v. AO ( 2018) 196 TTJ 719 (2019) 173 DTR 276 (Delhi)(Trib)
S. 69A : Unexplained money – Income from undisclosed sources –Export sales – Export was made by assessee in his proprietorship concern and there was no justification for making an addition as undisclosed export proceeds –Statement of third party – Addition is held to be not justified without giving an opportunity of cross examination. [ S.158BC ]