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2015 (3) TMI 1352 - AT - Income TaxAddition u/s 68 - genuineness, credit worthiness and identity of creditor - HELD THAT:- The assessee's version of truth was placed before A.O. also, but A.O. did not find any evidence contrary to above facts. CIT(A) further observed that the assessee’s husband was working in Meghalaya House and he used to come across the friend Mr. W. Sutong in the Meghalaya House. When the assessee and her husband purchased a house, they had discussed the matter with the Mr. W. Sutong and Mr. W. Sutong agreed to pay them ₹ 16,18,000/- by cash in their bank account but later on they realized that they being in the government service, it is not proper to get loan from stranger. There will be problems for them and they returned the money immediately to the appellant's bank account by RTGS. The above submission of refund of money is available on record. Therefore, ₹ 15,80,000/- was returned by assessee's husband from their joint account to Mr. W. Sutong. Hence, in our considered opinion, the CIT(A) has rightly gave a relief to the assessee of ₹ 15.80 Lakh. In the background of the aforesaid detailed discussions, we find that Ld. CIT(A) has rightly deleted the addition of ₹ 15,80,000/- and sustained the balance addition of ₹ 38,000/-. - Decided against revenue
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