Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (4) TMI 311 - AT - Income TaxUnexplained cash credit & investment - CIT(A) deleted the addition - Held that:- The appellant had invested Rs. 22.5 lacs in A.Y. 04-05 & 05-06 which has been re-paid by M/s. Tanishq Hotel Limited in the year under consideration. All the payments were made through account payee cheques. Therefore, assessee's own money has been returned back. Thus, the source of the credit is not required to be explained. The appellant had filed necessary certificated from both the Banks, which has been rightly considered by the CIT(A). Therefore,no reason to intervene in the order of the CIT(A). Accordingly, the Revenue's appeal is dismissed
|