On finding that none of requirements of section 69 regarding source of investment stands fulfilled, the Mumbai ITAT upheld the order of CIT(A) deleting the addition made by AO under said provision.The Bench comprising C.V. Bhadang (President) and B.R. Baskaran (Accountant Member) observed that, “the said section envisages a situation where the assessee has (i) made an investment (ii) which...
