Section 69 addition by AO – ITAT upheld relief given by CIT(A)

Anuradha Pandey Vs ITO (ITAT Varansi) The limited controversy is regarding the source of investment from realization of closing stock and debtors as on 31st March, 2011. The assessee claimed that she has realized from the sale of old stock of Rs. 9,04,000/- and from debtors of Rs. 2,65,290/- total amounting to Rs. 11,65,690/- and claimed the source of investment in the house property to the tune of Rs. 11,00,000/- from this amount of realization from the closing stock of the previous year as well as from debtors. The CIT(A) estimated these amount of realization from the inventories and debtors...