Mere typographical mistake without independent evidence doesn’t amount to unexplained money

Advertisement Jaspal Singh Prop Vs ITO (ITAT Amritsar) ITAT Amritsar held that mere typographical mistake in mentioning the balance of capital account doesn’t amount to concealment. Accordingly, addition on account of unexplained money unsustainable. Facts- During the assessment, the accountant of the assessee made a mistake to submit Capital account of the assessee. Due to the typographical mistake the balance of capital account was reduced to amount of Rs. 11 lac. The accountant of assessee wrongly mentioned capital balance amount of Rs.1,56,040/- instead of Rs. 12,56,041/-. The assesse...