Assessment of surrendered income from unexplained sources u/s 69 is invalid

Jaspreet Singh Mauj Vs DCIT/ACIT (ITAT Chandigarh) The case of Jaspreet Singh Mauj Vs. DCIT/ACIT brings to light the intricacies and interpretations of Section 69 of the Income Tax Act, 1961. This landmark verdict by ITAT Chandigarh becomes a critical reference for income surrendered from unexplained sources, especially when no concrete evidence is found during survey operations. Background: Dr. Jaspreet Singh Mauj, a practicing Veterinary Doctor, reported his earnings from his profession. Upon a survey conducted at his premises, no incriminating documents or any form of cash were uncovered. ...