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2014 (3) TMI 32 - AT - Income TaxDeletion made on account of unexplained deposits Protective assessment made Held that:- The contention of the Assessee is accepted that although the reasoning for reopening was very much in the notice of the Income Tax Officer but after considering the explanation and the return of income filed by the brother, the ITO had chosen to accept the returned income - once there was no substantive addition of amount then there ought not to be any question of protective assessment in the hands of the assessee - The Revenue Department has examined the evidences in respect of Sri Kamlesh Kumar Chaudhary and thereupon found them correct they made no addition in respect of the amount - while deciding the appeal of the assessee, CIT(A) has also noted all of those evidences and held that the said transaction being reflected in the return of Sri Kamlesh Kumar Chaudhary and that return was accepted by the Revenue Department thus, the assessment of the amount protectively in the hands of the assessee did not survive - the findings of the First Appellate Authority upheld Decided against Revenue.
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