Explained source of investment accepted where bank and loan evidence showed funding for stamp duty and purchase consideration.

Where an assessee supports an investment with bank evidence of a personal loan and material showing that the stamp duty was paid by a third party, the source of funds is treated as satisfactorily explained and the onus is discharged. On those facts, an addition for unexplained investment comprising stamp duty and part of the purchase price could not be sustained, and it was deleted.

---

---

Issues: Whether the addition made on account of unexplained investment, comprising stamp duty and part of the purchase price, was sustainable when the assessee explained the source of funds.

Analysis: The assessee relied on the bank statement showing a personal loan and the material indicating that the stamp duty amount had been disbursed by M/s. Indiabulls. On those facts, the source of the impugned investment was treated as satisfactorily explained, and the onus cast on the assessee was held to have been discharged.

Conclusion: The addition was deleted.

Ratio Decidendi: Where the assessee establishes a credible source for the investment and related payment through bank and loan material, an addition for unexplained investment cannot be sustained.

---