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TMI Blog2024 (3) TMI 250X X X X Extracts X X X X X X X X Extracts X X X X ..... eign currencies were found from the possession of Vikram Bajaj, which is also not in dispute that in the proceedings of Vikram Bajaj, identical query was raised, wherein the explanation was furnished by the Vikram Bajaj and accepted by the AO. It is also true that small amount of foreign currency were found which appears to be remnants of foreign travel undertaken by the family members of the Grou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ain, Adv. And Shri Aman Garg, CA For the Revenue : Shri P N Barnwal, CIT(DR) 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 searc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... belongs to six members of Bajaj family. The Counsel further stated that 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 w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es are leftovers of the business trips. Even if we agree with these facts and explanations of remnants and leftovers, even then the onus is on the assessee to furnish evidences. The assessee has furnished before us, the evidence for the purchase of foreign currency from M/s Bakshi Forex Air Services (P) Ltd. The invoices pertain to the years 2012, 2013 and 2014 which are mainly for the US Dollar a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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