The CIT (A) directed the Assessing Officer to obtain from the assessee, the certified true copies of the above documents from the bank and furnish them before the Assessing Officer while giving effect to the appellate order. The CIT (A) further directed the Assessing Officer to delete the addition after satisfying himself that the source of such investment was from outside India. The Tribunal held that there was no infirmity in the direction issued by the CIT (A). (AY. 2009-10).
Asst. CIT (IT) v. Vijaykumar Vasantbhai Patel (2023)101 ITR 1 (SN) (Ahd) (Trib)
S. 69 : Unexplained investments-Loan received in USD and deposited in Indian bank account-Investment on same day in mutual funds-Source of funds outside India not taxable in India-CIT(A)’s direction to obtain certified true copies of source of income-Justified.