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2014 (1) TMI 244 - ITAT DELHIUnexplained cash credit - Held that:- The assessee has given detailed explanation in respect of the amount received from each creditor on each and every date - The CIT(A) has found that the assessee has duly discharged the onus to prove the cash credit lying in its books of account - The assessee has explained the source of each and every amount paid by the creditor - Most of the amounts paid by the creditor were after receiving the same from Karush Auto Pvt.Ltd. and from the maturity of LIC policy except one amount which is received out of the sale consideration of the commercial property sold by Rahul Kumar Marwah - The assessee had also produced the evidences of the amount received by the creditor from M/s Karush Auto Pvt.Ltd. and also from maturity of LIC policies of the creditors - The assessee has proved the identity and creditworthiness of the creditor as well as the genuineness of the transaction - Decided against Revenue.
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