Addition u/s 69 unsustainable as investment is out of NRI Repatriation funds

ACIT Vs Vijaykumar Vasantbhai Patel (ITAT Ahmedabad)

ITAT Ahmedabad held that addition u/s 69 of the Income Tax Act as unexplained investment unsustainable as the investment is out of the NRI Repatriation funds came outside India and which is not taxable in India.

Facts-

The assesee is an individual and Non-resident Indian. Regular assessment was completed u/s 143(3) of the Act on 12.12.2011. Later, AO came in possession of information t

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