Source of gift satisfactorily explained: ITAT deleted addition

Karunamoorthi Kavitha Vs ACIT (ITAT Chennai)

In the matter abovementioned ITAT allowed the appeal of the assessee after deleting the addition made u/s 68 after observing the fact that assessee had filed relevent details during assesssment.

Assessee is a Gynaecologist, running a multi specialty hospital. A survey was conducted u/s 133A and found that the assessee has been generating income by renting out a medical shop for Rs.5,000/- per month and canteen for Rs.7,000/- per month and the same was not offered to tax from June, 2017 onwards. Assessee was asked to explain the so

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