Addition u/s 69 on account of untallied bank entries not sustainable where such entries duly recorded & reconciled in books

Brief of the Case ITAT Ahmedabad held In the case of ITO vs. M/s Bharat Agro Industries that section 69 comes into operation only if investments are not recorded in the books of account maintained by the assessee which is not the case looking to the facts of the assessee wherein the bank balances are shown in the audited balance sheet and reconciliation statement for various entries which were not tallied duly put on record before the lower authorities and also filed along with Paper Book. Further the AO has himself recorded in his order that assessee has disclosed all the bank accounts in his...