Addition u/s 69A sustained as nature and source of acquisition of property not offered satisfactorily

DCIT Vs Shivram Consultants India Pvt. Ltd (ITAT Delhi)

ITAT Delhi held that where the property is not recorded in the books of account and explanation about the nature and source of acquisition of property is not offered satisfactorily, then value of such property would be deemed to be income under section 69A of the Income Tax Act.

Facts- Based on the information from the investigation wing, the case of the assessee was reopened u/s 148. In response to the aforesaid noti

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