Addition u/s 68 towards unexplained cash credit unjustified as source of credit entries explained

DCIT Vs Vikas Arora (ITAT Delhi) ITAT Delhi held that addition towards unexplained cash credit under section 68 of the Income Tax Act unjustified as necessary details explaining the source of credit entries duly provided. Facts- The assessee, a non-resident individual, filed his return for the assessment year under dispute declaring income of Rs.10,15,790/-. The return so filed was processed u/s. 143(1). Subsequently, AO received information that an amount of Rs.3,68,15,167/- has been credited to the bank account of the assessee. Since, the amount credited to the bank account was not offered i...