Addition of unexplained investment u/s 69 untenable as source of investment duly explained

DCIT Vs Sukhbir Shokeen (ITAT Delhi) ITAT Delhi held that addition u/s 69 of the Income Tax Act towards unexplained investment untenable as source of investment made by the appellant stands sufficiently explained. Facts- AO noted that during the year under consideration, the appellant has been engaged in plotting and sale of this land to different parties. During the A.Y. 2016-17, AO noted that there were substantial credits including the cash deposits in his different bank accounts and that the assessee has not been able to explain how the income figure for different assessment years has been...