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2015 (7) TMI 1046 - AT - Income TaxAddition on income from other sources - receipt of accommodation entries - Held that:- As found from the record that assessee has neither received any accommodation entry in the form of LTCG nor offered any income under such head. Even in the bank statement the AO did not find any credit entry of ₹ 5,20,215/- to support the contention that assessee was in receipt of cheque of ₹ 5,20,215/- on account of bogus LTCG. The assessee has also confirmed that she has only one bank account. Merely on the plea that computer of M/s Mahasagar Securities Pvt. Ltd. indicated issue of accommodation entry in the name of assessee, the amount cannot be added in the hands of the assessee unless AO brings on the record cogent evidence to show that amount was actually received by assessee or credited in her bank account. It is also not the case of AO that Bank account of Mahasagar Securities Pvt. Ltd. indicates any issue of cheque in the name of assessee. Merely entry in computer found at the premises of Mahasagar Securities Pvt. Ltd. could not be made the basis of addition in the hands of assessee unless some corroborative evidence is brought on record by AO to substantiate the stand that assessee was in receipt of such bogus entry. Under these circumstances, in the absence of any evidence on record, we do not find any merit in the action of the AO for adding a sum of ₹ 5,20,215/- as bogus LTCG in the hands of the assessee. - Decided in favour of assessee
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