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2015 (7) TMI 190 - AT - Income TaxValidity of CIT[A] order - Disallowance of unexplained investment - Held that:- CIT(A) observed that the amount of ₹ 10.63 lakhs form part of the regular sales recorded in the books and hence cannot be termed as unexplained receipt/investment in the hands of the assessee. He observed that most of these documents and evidences were submitted before the AO and the AO has not made any adverse comments. No independent enquiry was conducted by the AO. In any event the amount of ₹ 10.63 lakhs comprising of small denomination Demand Drafts of ₹ 19,500/- each were sent back to the AO for verification. The other additions were deleted. - D.R. could not controvert any of the factual findings recorded by the Ld.CIT(A). - Decided against Revenue.
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