Explained source of property investment defeated additions for unexplained investment and expenditure under sections 69 and 69C.

Additions treating property purchase consideration and stamp duty or registration charges as unexplained investment and unexplained expenditure under sections 69 and 69C were deleted where the assessee produced a fund trail showing earlier booking of the property and payments through identifiable cheques and cash sourced from the father's accumulated salary and pension savings. On the material produced, the source of investment was accepted as explained, so the impugned additions could not be sustained.

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Issues: Whether the addition made towards the purchase consideration of property and stamp duty or registration charges as unexplained investment and unexplained expenditure under section 69 and section 69C was sustainable.

Analysis: The assessee furnished a fund trail showing that the property was booked earlier and that the purchase consideration and incidental charges were met through identifiable cheques and cash originating from the father's accumulated savings from salary and pension. On the material placed, the source of investment was found to be explained and the additions could not be sustained.

Conclusion: The addition under section 69 and section 69C was deleted and the issue was decided in favour of the assessee.

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