Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (1) TMI 189 - HC - Income TaxAdditional evidence - Rule 46A - Deleting the Addition of Rs. 14,00,000 on account of unexplained deposits - Rule 46A providing instances under which fresh evidence can be entertained - The sickness of the partner is valid reason for not producing the evidence during the assessment - The fact that the matter was taken up in the fag end of the limitation period is also relevant - the additional evidence filed by the appellant - Considering the material on record the source of Rs. 14 lakhs stands duly explained by the sale deed of the agricultural land by the partner of the assessee firm who has received the sale price and contributed the additional capital by account payee cheques only which are duly reflected in the copy of bank account by the appellant - Hence, the view taken by the CIT(A) as upheld by the Tribunal cannot be held to be erroneous -The appeals have to be dismissed.
|