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2016 (10) TMI 1141 - AT - Income TaxAddition u/s 69B - unexplained purchase of land - Held that:- It is an admitted fact that the assessee has purchased M/s PSP Steels(P) Ltd for a sum of ₹ 22 crores and ₹ 19 crores was paid through banking channel which was not disputed by the Department. The details of the payments made were furnished by the assessee before the CIT(A) as well as before us in the statement of affairs. This fact was not disputed by the Department. The remaining amount of ₹ 3 crores was paid by the assessee from his own source for which fact finding was given by the CIT(A). During the appeal the ld. AR furnished the date wise payment in the paper book and the same was not controverted by the ld. DR. Therefore, we do not find any reason to interfere with the order of the CIT(A) and the same is confirmed.
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