Held that In no physical stock and no excess cash were actually found at the time of survey at the premises of the assessee, addition under S. 69 and 69A made by the AO towards alleged excess stock and excess cash cannot be sustained solely on the basis of voluntary surrender of additional income by the assessee. (AY. 2018-19)
Saru Enterprises (P) Ltd. v. ACIT (2024) 232 TTJ 441 / 244 DTR 11 / 38 NYPTTJ 1325 (Chd)(Trib)
S. 69 :Unexplained investments-Un explained money-No excess stock-Survey-Merely on the basis of statement no addition can be made.[S.69A, 133A]
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