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2017 (6) TMI 1377 - AT - Income TaxUnexplained investment u/s 69 - investment in an agricultural land - source of loan amount could not be explained - AO observed that the assessee had made investment in an agricultural land the source of investment was stated to be source of the source of loan taken to the other persons was claimed to have been taken from Smt. Anita Kumari was doubted by the AO - HELD THAT:- AO made addition on the ground that the source of the source of loan amount could not be explained. CIT(A) in his order has observed that the AO in his remand report, reported that source of loan was stated to be cash withdrawal from the bank account of her husband. Moreover, the factum of sale of agricultural land by the Husband of Smt. Anita Kumari is not disputed by the Revenue. CIT(A) has adopted a possible view with regard to availability of fund from deposit in the banks accounts of Smt. Anita Kumari. AO did not bring any material on records suggesting that the cash belonged to the assessee. Hence, we see no merit into the ground of the revenue. Appeal of the revenue is dismissed.
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