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2014 (5) TMI 443 - HC - Income TaxUnexplained investment – Deletion made - The deletion of the addition of ₹ 1 crore on account of the unexplained investment, the CIT(A) and the Tribunal have deleted the addition on examination of facts - no question of law arises for our consideration - The facts do not point conclusively to unexplained investment of ₹ 1 crore in cash by the assessee particularly because the MoU as well as the receipt in question were unsigned documents and the transaction had not materialized - as the deletion of the addition of ₹ 57 lacs on account of the Udyog Vihar property is concerned, the difference is that there was not even an unsigned receipt nor any payment through cheque - even the agreement was an unsigned document - The Tribunal found that there was not even an iota of evidence to establish the revenue’s contention that any unexplained investment in cash had been made by the assessee in respect of the Udyog Vihar property - the findings of the Tribunal are also pure findings of fact and no question of law arises for consideration – Decided against Revenue.
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