Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2012 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (5) TMI 163 - HC - Income TaxUnexplained investment - books of account had ever been produced before any Income-tax Authority for verification - ITAT deleted the addition - held that:- The source of investment was shown by the assessee by producing the relevant books of account. The books of account had contained the relevant entries for withdrawal of the amount - tribunal after considering the entire materials on record including the reasons given by the Assessing Officer and Appellate Authority has chosen to disagree and has recorded its independent findings holding that the investment is clearly reflected in the books of account produced by the assessee and has been properly explained by the assessee. The findings recorded by the Tribunal are essentially findings of fact based on material. - No substantial question of law - decided against the revenue.
|