TaxTMI 
TaxTMI 
2012 (11) TMI 929
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....JUSTICE SONIA GOKANI) Following questions are proposed by the Revenue in this appeal where it challenges the order of the Income Tax Appellate Tribunal dated 5.6.09: "A. Whether the Appellate Tribunal is right in law and on facts in confirming the order passed by CIT(A) in deleting the addition of Rs.6,16,378/- made u/s.68 of the Act ? B. Whether the Appellate Tribunal is right in law an....
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....ssessee on protective basis. When challenged before the CIT (Appeals), it remanded for the report of the Assessing Officer. The assessee furnished the source of amount of Rs.5,48,282/- which was the protective addition. The explanation was that it was received from Dr. Devdut who was residing at USA who brought gold in India and sold to meet the social obligations. On the ground that source of m....
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....ew of the above, there does not appear to be any infirmity in the order of the Tribunal. The Tribunal has, therefore, rightly deleted the amount added by the Assessing Officer on protective basis in wake of substantive addition. The second issue pertains to deletion of addition of Rs.4,91,783/- which was added by the Assessing Officer as unexplained income of the assessee being the amount lying i....