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No obligation to prove Source of Source – Section 69 Addition deleted
Case Law Details
- Case Name
- Chinnasaminaidu Chandrasekar Vs ITO (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Chennai
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Chinnasaminaidu Chandrasekar Vs ITO (ITAT Chennai)
No obligation to prove Source of Source – Addition u/s 69 on property investment deleted. ITAT deleted an addition of ₹87.88 lakh under Section 69. Payments made by son-in-law and other family members were held genuine, and “source of source” proof was not required for AY 2015-16. ITAT Chennai ruled that once identity, genuineness, and source of funds are established, the assessee is not obliged to prove the source of source. The Tribunal rejected AO’s reliance on “intention” for making additions. Registered agreements, TDS de...
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