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2013 (1) TMI 87 - HC - Income TaxUnexplained cash credit - ITAT deleted the addition - Held that:- CIT(A) as well as the Tribunal have arrived at concurrent finding of fact that the credit aggregating to Rs.43.75 has been explained by the assessee and the same cannot be added to the income of the assessee. This finding was reached after detailed examination of each of the cash credits. The revenue has not been able to show that a concurrent finding of fact arrived by the authorities below is either perverse or arbitrary. The CIT(A) has made a distinction between monies advanced by a creditor all by himself and monies advanced by him after collecting funds from his close relatives - in favour of assessee.
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