Addition U/s 69 Deleted; AO/CIT(A) Inconsistency & No On-Money Evidence – ITAT Mumbai

Mithlesh Amarnath Maurya Vs ITO (ITAT Mumbai) Addition u/s 69 Deleted – No Evidence of On-Money Source Accepted in Spouse’s Case; Inconsistent Approach of AO/CIT(A) Rejected – ITAT Mumbai The assessee faced addition of ₹57.24 lakh as unexplained investment in flat purchase and alleged on-money payment based on information from search on a builder group. CIT(A) granted partial relief by accepting housing loan of ₹42.50 lakh but sustained ₹14.74 lakh u/s 69. Before ITAT, it was shown that the property was jointly purchased, funded through housing loan and spouse’s banked savings, a...