2024 (3) TMI 250

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.... ORDER PER N.K. BILLAIYA, AM This appeal by the Assessee is preferred against order of the CIT(A)-30, New Delhi, dated 23.06.2023 pertaining to A.Y. 2018-19. 2. The substantive grievance argued before us relates to the addition of Rs. 1,10,574/- made by the AO on account of foreign currency found during the course of search treating the same as unaccounted income in the hands of the assessee. ....

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....at identical query was raised during the assessment proceedings of Vikram Kumar Bajaj wherein the Vikram Kumar Bajaj has taken the onus to explain the source of foreign currency valuing at Rs. 1,10,574/- and the explanation offered by Vikram Bajaj was accepted by the AO. The Counsel concluded by saying that, since the currency was found from the possession of Vikram Bajaj, the addition cannot be m....