Dismissing the appeal of the revenue the Tribunal held that ,the assessee has explained the difference in capital account and books of account as the share in partnership firm was not included in the books of account. Accordingly the deletion of addition by CIT(A) is held to be justified. (AY. 2012-13)
DCIT v. Hrishikesh D. Pai (2018) 173 ITD 272 /( 2019) 197 TTJ 583(Mum.) (Trib.)
S. 69B : Amounts of investments not fully disclosed in books of account –Capital accounts -Books of account – Firm -Partner -Share in partnership was not included in the books of account- Difference was explained – Addition was held to be not justified.