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2012 (10) TMI 359 - AT - Income TaxAddition on account of unexplained investment u/s 69 – Assesse made a payment to builder against booking of flats - Assessment of the assessee was reopened u/s 147 on the basis of unexplained finding found in the case of builder – Later, identity and creditworthiness of the builder was established by ITAT - Whether AO has authority to dispute the correctness of assessment in respect of transactions in the books of another person on basis of which case of assessee was opened, when such transactions are found to be explained subsequently in case of said another person by Tribunal - Held that:- In light of findings of the ITAT in the case of builder, when Revenue have not placed any material, controverting the aforesaid findings. Therefore we are unable to take a different view in the matter. Appeal decides in favour of assessee
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