Unexplained investment additions deleted where identical facts had already been decided by coordinate bench rulings.

Where cash payments for purchase of a shop were treated as unexplained investment under section 69, the ITAT followed earlier coordinate bench rulings involving the same group and similar facts. The Revenue failed to show any material factual or legal distinction from those decisions, so the Tribunal applied the same reasoning and deleted the addition. The common order of the first appellate authority was set aside and the assessee's appeals were allowed.

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Issues: Whether the addition made as unexplained investment under section 69 of the Income-tax Act, 1961, and sustained in appeal, was liable to be deleted in view of the coordinate bench decisions on identical facts.

Analysis: The appeals arose from additions treating cash payments towards purchase of a shop as unexplained investment. The Tribunal noted that the assessee relied on several prior decisions of coordinate benches concerning the same group and similar transactions. The Revenue was unable to distinguish those decisions on facts or law. Following the earlier rulings, the Tribunal found no material difference in the present matters and adopted the same view.

Conclusion: The addition under section 69 was deleted and the assessee's challenge succeeded.

Final Conclusion: The common order of the first appellate authority was set aside and all three appeals were allowed.

Ratio Decidendi: Where the facts and issue are materially identical to earlier coordinate bench decisions, and no distinguishing feature is shown, the Tribunal may follow those decisions and delete the addition for unexplained investment.

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