TaxTMI 
TaxTMI 
2011 (12) TMI 357
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....10 of CIT(A) for the assessment year 2006-07. The only dispute raised in this appeal is regarding addition on account of unexplained expenditure under section 69C of the Income tax Act. 2. The facts in brief are that the AO noted from AIR details that the assessee had paid a sum of Rs.2,57,726/- against Citi Bank credit card bills. The assessee submitted the credit card statement of Rs.2,5....
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....y of the cousin of the assessee was not proved and details of the amount brought by her on her arrival to India were not given. The AO also observed that there is no reason as to why the said amount was to be kept in safe custody and not to be invested. The AO therefore, added a sum of Rs.2,06,551/- as unexplained expenditure under section 69C of the IT Act. In appeal, the assessee submitted that ....
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....pon it to explain the source. The AO had made no further enquiry nor had called for any further details and evidence from the assessee and, therefore, the addition made by the AO was not correct. The CIT(A) also had confirmed the addition in the same manner without calling for further details and evidence or without making any further enquiry. 3.1 The ld. DR on the other hand strongly supp....
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....ed by the assessee as incurred out of cash of Rs.4,10,000/- left with him by his cousin sister Ms. Rima K. Tejwani who was living in USA and had come to visit India in January/February, 2005. Ms. Tejwani had left cash with the assessee for safe custody to be used during her next visit to India. This was duly confirmed by Ms. Tejwani vide letter dated 31.3.2005 addressed by her to the assessee whic....