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2010 (1) TMI 918 - AT - Income TaxAddition towards drawings - drawings made from his saving bank accounts maintained - assessee made sufficient drawings during the period under dispute which have been duly vouched by the Bank statements – Held that:- addition made under 'Insufficient drawings' stands deleted - misunderstanding had cropped up due to erroneous way in which the accounts, statement of affairs and computation of income were originally prepared by the assessee Unexplained investment u/s 69 of the Act – Held that:- unexplained investment made u/s 69 of the Act is deleted as the receipts and investments have since been properly explained and that there was no unexplained investment as alleged by the AO Interest u/s 234B and 234C of the Act – Held that:- Charging of interest u/s 234B and 234C of the Act are mandatory and consequential in nature, this ground is not maintainable and, thus, dismissed as such.
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