Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (12) TMI 1183 - ITAT MUMBAIUnexplained cash credit - CIT(A) deleted the addition - Held that:- The assessee has maintained regular cash book and all its account are audited. The Ld.CIT(A) has analyzed each and every deposits made by the assessee in the bank account from the withdrawals made by the assessee from the bank and the cash available in the cash book. The assessee has also shown sufficient cash in hand in the balance sheet of the earlier years and also the source of cash available with the assessee. Thus, the deposits made by the assessee has been properly explained by the assessee before the Ld.CIT(A) and without there being any contrary evidence or rebuttal by the department, we do not find any reason to deviate from such a the finding recorded by the Ld.CIT(A). Accordingly, the order of the Ld.CIT(A) is affirmed and ground raised by the Revenue is dismissed. - Decided in favour of assessee
|