Addition u/s. 69 towards unexplained investment deleted as source duly explained

Gajendra Pal Sharma Vs ITO (ITAT Delhi)

ITAT Delhi held that the assessee has duly explained the source of his share of the investment made in the property purchased. Accordingly, addition towards unexplained investment under section 69 of the Income Tax Act is directed to be deleted.

Facts- AIR information was received from the office of the sub-registrar u/s 285BA of the Income-tax Act, 1961 relating to purchase of immovable property by the assessee for Rs. 90,95,000/-including stamp duty on 16.02.2012. To verify the transaction as reported in the AIR info

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