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2016 (6) TMI 925 - AT - Income TaxTaxability of credits in the undisclosed bank account jointly held with assessee and her daughter - Held that:- Learned CITA had given categorical findings that the entire credits in the Indian Bank account have been duly considered by Smt. Rita Bagaria (daughter) with proper explainable sources and there is no case for making any addition in the hands of the assessee in the sum of ₹ 42,44,508/-. He had also categorically held that an addition of ₹ 3,06,041/- is also included in the amount already added in the sum of ₹ 42,44,508/- and hence in any case would only result in double addition. Accordingly he had deleted the additions of ₹ 42,44,508/- and ₹ 3,06,041/-. The Learned DR had prayed for setting aside of this appeal to the file of the Learned AO for verification of returns of Smt. Rita Bagaria. We feel that this is not necessary as we are thoroughly convinced that the entire credits in the bank account have been duly considered in the hands of Smt. Rita Bagaria and it would not advance the case of the revenue in any manner. Hence we find no infirmity in the order passed by the Learned CITA in this regard. - Decided against revenue
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