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2012 (5) TMI 442 - AT - Income TaxReassessment - Addition u/s 69C - Unexplained expenditure - Withdrawal of cash from third party account after making payment against purchases - held that:- The information emanates from a third party, namely, JECPL. - The impugned bank account and the Kachhi Rokar is owned, operated and maintained by JECPL. The third party in factual terms accepted that the assessee used to make the payment of purchases by way of a/c payee cheques, which are deposited in JECPL a/c in clear and unambiguous terms. - In our considered opinion, looking at the entirety of facts and circumstances and in view of above observations, the addition on the basis of such a third party's evidence cannot be made in the hands of the assessee. - The bank a/c is owned and operated by JECPL, assessee clearly has no role or involvement in operation of this bank a/c. - In our considered opinion, by interpreting 2 or 3 sentences of third party's statement, which is not allowed for cross-examination by the assessee, cannot be made a basis to make these additions in the hands of the assessee u/s 69C as unexplained purchases. - Decided in favor of assessee.
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