Addition u/s 69C sustained as search in group concern proved maintaining of books of accounts outside regular books

ACIT Vs Kantilal Exports (Supreme Court of India)

Supreme Court held that addition u/s 69C as unexplained income sustained as based on search conducted in group concern it was found that assessee was maintaining the books of accounts outside regular books.

Facts- AO made additions of Rs. 17,15,00,000/- as unexplained expenditure u/s. 69C of the Act taking into consideration the actual consumption of diamonds as 4,30,701.14 carats as mentioned in the audit report and after considering the consistent tr

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