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2012 (7) TMI 409 - AT - Income TaxAddition on account of unexplained expenditure - CIT(A) deleted the additions - Held that:- AO has observed that in the absence of books of account and supporting vouchers, the expenses of the assessee remain unverified, therefore, he estimated the income of the assessee out of the expenses incurred through the credit cards as per the information given by the AIR Wing whereas during the appellate proceedings, assessee has produced the details of the expenses incurred through credit cards. The total expenses incurred by the assessee are Rs.36,71,768, out of that Rs.35,96,331 was for purchase of diesel. These payments have been verified by the AO in the remand proceedings with the banks statements and he was satisfied. The difference between these payments and the total expenses has been accepted by the assessee as an addition which pertains to personal expenses - no point of unexplained expenditure - in favour of assessee.
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