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2014 (1) TMI 860 - AT - Income TaxAddition made u/s 68 of the Act - Unexplained deposits in bank – Held that:- The assessee has given the details of efforts taken by her to obtain a confirmation letter from the purchaser of the property - The son of the purchaser has confirmed the payment details - The particulars of the purchaser including his Permanent Account number were furnished to the Assessing officer - no effort was taken from the side of the AO to examine the veracity of the claim made by the assessee - The assessee, being the seller, cannot be expected to have control over the purchaser of the property after the completion of the sale transaction - Thus, the assessee has done all that she could do - there is no reason to suspect the claim of receipt of sale consideration at Rs.33.50 lakhs - the assessee has discharged the primary onus placed upon her under section 68 of the Act - the order of CIT(A) set aside and the assessing officer is directed to adopt the sale consideration as Rs.33.50 lakhs – Decided in favour of Assessee.
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