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2012 (11) TMI 616 - AT - Income TaxAdditions towards business income from lease of buses – Held that:- As the same issue has been duly consider by ITAT, Chennai ‘B’ Bench in assessee's own case while considering the appeals for the Assessment Years 2002-03 to 2006-07 filed before it and deleted similar additions after examining the facts of the case. Issue decides in favour of assessee Additions on account of interest and chit bazar – Held that:- The Tribunal also had considered the appeals in the case of very same assessee for AY 2002-03 to 2006-07, this issue has not been raised therein. In these circumstances, justified in following his earlier orders and granting relief to the assessee.. Issue decides in favour of assessee Addition on account of unexplained money – Cash found during search - Books of accounts were not available at the time of search - Assessee had maintained books and they were produced before the assessing authority - Books were not rejected in the course of assessment – Held that:- When we consider the entire aspects, in view of the fact that the cash balance was available in her hands as per cash book. The CIT(A) has deleted the addition of Rs.17 lakhs on sound and reasonable ground. In favour of assessee Addition on account of unexplained investment - Gold jewellery and diamonds – Held that:- The assessee coming from an affluent family, reasonable amount of jewellery was received at the time of marriage and other occasions from her parents and other close relatives. As examined the statements made by different persons at the time of search and has tabulated the details of gold ornaments available in the hands of different persons and has reasonably worked out the account of gold jewellery in the hands of the assessee.. In favour of assessee
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