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2012 (8) TMI 65 - ITAT, AHMEDABADAddition u/s.69C being unaccounted expenditure & unaccounted investment - Held that:- As opening cash balance was Rs.6.93 lakhs and Books of account were not written up-to-date because the partner could not explain the cash balance and cash utilized. The admission made by the partner appears to be in fear and without any evidence. The assessee has retracted the disclosure by the affidavit which A.O. has not considered the affidavit in framing of the assessment. The case is audited. The assessee had claimed that some of the expenses were paid through demand draft prior to date of survey. The Books of account has not been rejected by the A.O. at the time of assessment - CIT(A) was correct in deleting the addition - in favour of assessee. Addition being unaccounted expenses on machinery - not supported by the vouchers - Held that:- CIT(A) was correct in scaling down the addition of Rs.25,000/- to Rs.15,000/- goning through the reply of the assessee and order of the authority below that payments were made in cash and bills are not verifiable, therefore, we confirm the order of the CIT(A).
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