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2012 (12) TMI 95 - AT - Income TaxAddition as income from other sources for the credits appearing in the bank account – alleged that bank account not belong to the assessee – Held that:- during the course of assessment proceedings, certain information was gathered u/s 133(6)/131 which is available in the assessment record. - However, in the assessment order, we do not find any whisper about such information. - If the information is against the assessee, he should have been confronted with this information and if the information was in favour of the assessee, then to that extent, addition should not have been made. AO made the addition of entire receipt credited in the assessee’s bank account. The assessee has claimed that most of the receipt is either the loan taken by the assessee or repayment of the loan which was given by the assessee. He also stated that the parties from whom loan was taken or who refunded the loan to the assessee have affirmed those facts to the AO in writing. If it is so, then the addition in respect of that credit should not have been made - matter is restored back to AO for making assessment afresh
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