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2014 (4) TMI 773 - ITAT HYDERABADAddition of unexplained investment – Held that:- Both the authorities have considered the issue without examining the facts - as seen from the record also, assessee took credit for the gift amount of Rs. 2 lakhs from the father which was confirmed whereas, on the basis of the amount mentioned in the Balance Sheet, A.O. brought to tax an amount of Rs. 3.6 lakhs - even the chit amounts and other amounts received are not examined properly - Both Revenue and assessee are aggrieved on the various confirmations/ deletions by the CIT(A) - thus, the matter is remitted back to the AO for fresh examination – Decided in favour of Assessee. Disallowance of expenditure claimed – Held that:- CIT(A) partly confirmed the amount – there is no reason to differ from the disallowance made by the CIT(A) – AO has no basis to disallow the entire expenditure out of the commission earned – the order of the CIT(A) upheld – Decided against Revenue.
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