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2015 (10) TMI 580 - AT - Income TaxUnexplained investment in Innova Car - CIT(A) deleted the addition - Held that:- Since inception the assessee’s stand was that the investment in the car was duly disclosed as per the books of account and nothing pertained to the year under consideration. The books of account and the information in respect of repayment was very much part of the assessment record, has vehemently argued before us. We, therefore, approve the factual finding of learned CIT(A) and find no force in the argument of learned DR. - Decided against revenue. Unexplained cash credits (deposit received) - CIT(A) deleted the addition - Held that:- No infirmity in the verdict of learned CIT(A). The assessee has disclosed not only the names of the tenants who have made the deposits but also their PAN information; therefore, it was not fair on the part of the AO to hold that the amount in question was not proved in terms of Section 68 of IT Act. Resultantly, we hereby confirm the findings of learned CIT(A) and dismiss this ground of the Revenue. - Decided against revenue.
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