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2016 (6) TMI 972 - HC - Income TaxBenami account - Additions made on the basis of peak amounts - Held that:- The concurrent findings recorded by the Assessing Officer, CIT(A) and the Tribunal that the savings account No.16860 in the name of Shri Sube Singh was infact benami account of the assessee and the additions made on the basis of peak amounts therein for the relevant assessment years were totally justified. The contention of the assessee in the facts and circumstances as noticed hereinabove cannot be accepted as the view taken by the Assessing Officer, CIT(A) and the Tribunal is based on appreciation of evidence on record. Learned counsel for the appellant has not been able to produce any material to controvert the well-reasoned findings recorded by the authorities below. Thus, no substantial question of law arises - Decided against assessee
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