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2014 (8) TMI 62 - AT - Income TaxAdmission of additional evidence – Income from undisclosed sources – Held that:- AO could have easily realized that there was a prima facie mistake on the part of the Revenue to process the information received through the A.I.R - The A.I.R information was actually regarding the cash deposits through ABN Amro Bank - the cash deposits are small amounts on various dates - There is also cash withdrawal - assessee’s claim is that cash deposits are out of sale proceeds received in cash and cash withdrawal are for making purchases from wholesalers and small manufactures –AO without verify the matter proceeded to make an addition u/s 69 of the Act - CIT(A) has correctly analyzed the issue and reduced the addition - CIT(A) finding has not been controverted/dispelled by the Revenue – order of the CIT(A) is upheld – Decided against Revenue.
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