Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (7) TMI 725 - ITAT, DELHIUnexplained investment u/s 69 of the I.T. Act - amount was added on the basis of document seized during the course of search - cheque number mentioned in the alleged documents is never debited in the Bank Account of the assessee – Held that:- Document was computer generated and unsigned while the cheque number 365277 dated 9.12.1999 mentioned in the said document was never debited to the bank account of the assessee - DR did not place any material before us controverting the aforesaid findings of facts recorded by the ld. CIT(A) so as to enable us to take a different view in the matter – In favor of assessee Undisclosed income - addition on account of cash seized from the bank account of the assessee - assessee submitted that no cash was found or seized during the course of search – Held that:- Cash of Rs. 5 lacs was seized from bank account, which account was reflected in the books of accounts of the assessee and return filed before the date of search. Since the amount was disclosed in the books of account of the assessee, this could not be considered undisclosed income by any yardsticks – In favor of assessee assessee
|