Section 69A of Income Tax Act, 1961—This appeal by assessee has been directed against the order of CIT, challenging the addition of Rs. 8,70,000/- on account of undisclosed professional receipt u/s 69A of the Income Tax Act.

Held that—assessee has paid advance tax on the amount in question in AY 2020-21 and undertaken to declare the amount for taxation, I am of the view that Revenue is not going to lose anything. It is merely a tax neutral exercise. I, therefore, do not find any justification to doubt the explanation of the assessee. In this view of the matter, I set aside the orders of the authorities below and delete the addition of Rs. 8,70,000/-.[MANISH GANDHI VERSUS INCOME TAX OFFICER, WARD 61 (2) , NEW DELHI.] [2019] 16 ITCD Online (1) [ITAT DELHI]