The AO made the addition on the basis of the statement in the course of search though the proper explanation was furnished with supporting evidences. On appeal CIT (A) deleted the addition by appreciating the evidences and the explanation. On appeal by the revenue the Tribunal affirmed the order of the CIT (A) . (ITA NO.194 /M/ 2018 dt 7-1-2020 ) (AY. 2014-15)
DCIT v Manekchand Kothari (Mum) (Trib) (UR)
S. 69A : Unexplained money -Un explained jewellery – Deletion of addition by the CIT(A) is held to be justified . [ S.132(4) ]