ITAT Ahmedabad Deletes Addition for Small Foreign Currency Found During Search

Harendra Mahendrabhai Patel Vs DCIT (ITAT Ahmedabad) AO had made an addition of ₹3,20,000 u/s 69A on the ground that foreign currency found during search was unexplained. CIT(A) confirmed the addition. Assessee explained that the small amount of foreign currency found at the premises of the assessee was left out currency out of the various foreign trips made by the assessee. Assessee & his family members had gone overseas trip in the year 2010, 2015, 2017 & 2018 & gave chart of the foreign trips of his father, his brother rakumar Patel & of the assessee. The children of the a...