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2013 (12) TMI 362 - AT - Income TaxAddition of income u/s 69A – During the course of survey u/s 133A - The assessee, had received Rs.2.39 crores in cash from Marvel group – The assessee has also received Rs. 1.61 crores through cheque as an advance for agreement to sale - Held that:- The transaction involves huge amount - No agreement for entering into the transaction or for cancellation of the deal was produced - These were oral agreements and no formal MOU was entered into – The failed to prove whether any subsequent sale has taken place of the said property, the value of such sale and whether MRDL is a party to any such agreement or not - The details of cash transactions and cheque transactions were found from the premises of MRDL and entries relating to cheque transactions in the books of MRDL tallies with the entries in the books of the assessee which shows that such cash transactions are genuine – The matter was set aside for fresh adjudication.
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