Addition towards unexplained investment deleted as payment from NRI account proved

Anil Dhansukhlal Vs ITO (Int.Txn) (ITAT Rajkot)

ITAT Rajkot held that addition on account of unexplained investment in purchase of immovable property u/s 69 of the Income Tax Act is liable to be deleted since assessee sufficiently proved that all the payments are made from wife’s NRI account.

Facts- Assessee is an individual and has not filed return of income. Based on information, it was observed that the appellant assessee had made considerable transactions for purchase of property of Rs.2,97,63,459/- at Mumbai, having tax and revenue implications, howev

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