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2012 (7) TMI 391 - ITAT, AHMEDABADUnexplained cash credit u/s 68 of the IT Act - unsecured loan - assessee did not furnish any details and confirmation letters in respect of the loan obtained – Held that:- Since, the assessee was not able to furnish any details for the loan received during the year, CIT(A) confirmed the same to be the addition made u/s 68 of the Act - order of the learned CIT(A) confirmed Disallowance of business expenditure - assessee did not furnish any details or explanation for the expenses incurred – Disallowance justified – Against assessee Contravention of Rule 46A of the IT Rules, 1962 - admission of additional evidences - DR submitted that the assessee has not furnished any evidence to justify non-production of details before the learned AO though the same was furnished before CIT(A) – Held that:- On examining the books of accounts the learned CIT(A) excluded the opening balance of loans and brought to tax u/s 68 of the Act for the loan obtained during the year for want of details and confirmation - A.O’s order it does not come out that the assessee had not produced the books of accounts before him - no merit in the arguments of the learned DR on this ground of admitting additional evidences under Rule 46A of the IT Rules, 1962
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