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2015 (10) TMI 2479 - AT - Income TaxAddition u/s 68 - there is a gap of 5 months between the withdrawal of the cash from the Bank account and re-deposit of the same in the Bank account - Held that:- No addition can be made u/s. 68 of the I.T. Act on the sole reason that there is a time gap of 5 months between the date of withdrawal from bank account of the cash in question and the redeposit of the same in the Bank Account, unless the AO demonstrates that the amount in question has been used by the assessee for any other purpose. In my view the addition is made on inferences and presumptions, which is bad in law. Hence, the addition in question is deleted. See AICT vs. Baldev Raj Charla [2008 (12) TMI 241 - ITAT DELHI-C ] - Decided in favor of assessee
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