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2020 (2) TMI 352 - ITAT AMRITSARUnexplained Cash credits/cash deposit in Savings Bank Account - addition of peak amount - HELD THAT:- CIT(A) disbelieved the amounts received by the assessee whereas the persons who had given the affidavits had not been cross-examined before rejecting the affidavits. As per AR the credits were in the bank account which was not a part of the books of accounts and the credits stood confirmed by the persons concerned and supporting documents to show the creditworthiness were also filed. It was also averred by the ld. AR that the cash balance in the books was also available and which could have been used for deposit in the bank account and detail of the cash balance available in the books on the various dates on which there were deposits in the bank account along with relevant pages of cash book were filed before CIT(A). We restore the issue for a limited purpose to the file of AO to verify and examine as to whether the assessee is entitled the benefit of opening cash in hand and cash available in books of account related to his business with regard to the amount after providing reasonable opportunity of being heard to the assessee. The assessee is also directed to cooperate with the AO for early disposal of the case and substantiate his claim with regard to cash deposit into the bank account and cash withdrawals from the bank account. Accordingly, we allow the sole ground raised by the assessee partly for statistical purposes.
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