Sustenance of addition made by the A.O. under section 69A of the Income Tax Act, 1961

Last updated: 04 August 2021
Quick Summary
This appeal concerns an addition of Rs. 99,84,046 made by the Assessing Officer (A.O.) under Section 69A of the Income Tax Act, 1961. The assessee argued that the funds introduced into their capital account were disclosed and sourced from a maternal cousin for property investment. However, the Commissioner of Income Tax (Appeals) upheld the A.O.'s addition, treating the amounts as unexplained investment.

Court :
ITAT Chandigarh

Brief :
This is an appeal by the Legal heir of the deceased assessee against the order dt. 26/04/2019 of Ld. CIT(A)-1, Chandigarh.

Citation :
ITA NO. 962/Chd/2019

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