Addition for Unexplained Cash Investment Without Proper application of mind Unjustified

Shiv Kumar Nayyar Vs DCIT (ITAT Delhi) In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Delhi sided with Shiv Kumar Nayyar in his appeal against the decision of the Commissioner of Income Tax (Appeals)-27, New Delhi, regarding the Assessment Year 2007-08. The core of the dispute revolved around the addition of ₹6,91,875 as income from undisclosed sources linked to Nayyar’s investment in a real estate project. Background of the Case: The dispute originated from the Assessing Officer’s (AO) decision to add ₹6,91,875 to Nayyar’s income for the Assessment Ye...