Section 69A Addition cannot be made by merely stating that explanation is not acceptable

Vishnu Kumar Garg Vs DCIT (ITAT Delhi) We find the A.O. in the instant case made an addition of Rs.12 lakhs to the total income of the assessee under section 69A of the I.T. Act, 1961 on the basis of entries dated 07.07.2010 and 07.08.2010 found as per Page-14 of Annexure-A1. We find the Ld. CIT(A) deleted the addition of Rs.2 lakhs and sustained the addition of Rs.10 lakhs the reasoning of which has already been reproduced in the preceding paragraph. It is the submission of the Learned Counsel for the Assessee that since the cash available with the assessee in various proprietorship concerns ...