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2016 (7) TMI 166 - AT - Income TaxAddition as undisclosed income made u/s 68 - Held that:- M/s Swaminarayan Enterprise had sufficient cash available in their books of account, which was in turn used to give business advances to the assessee society and, therefore, the sum of ₹ 23,86,030/- should not be treated as unexplained income and, accordingly, we delete the impugned addition made by ld. Assessing Officer and allow the ground of assessee. Addition on unexplained investment u/s.69 - Held that:- Additions were made by the assessing Officer on assumption, conjectures and surmises and without bringing any material on record with certainty and conviction that there was an unexplained investment in the land in excess of the price mentioned in the purchase documents and, therefore, we find no reason to interfere with the order of ld. CIT(A)in delting the addition - Decided in favour of assessee
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