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2016 (7) TMI 525 - HC - Income TaxAddition u/s 69C - undisclosed bank account deposits - Whether the Tribunal was justified upholding the addition to the extent of ₹ 16,15,261/- under section 69 when the authorities below had variously relied upon sections 69A and 69C ? - Held that:- There is no dispute on the fact that that the assessee deposited some thing between ₹ 44 laksh and ₹ 49 lakhs with the bank, which he did not disclose in his return. His explanation was restricted to a sum of ₹ 2,65,500/-. Therefore, the assessee could have been made liable for the balance amount under section 69 itself. The learned Tribunal has been lenient and restricted the addition to a sum of ₹ 16,15,261/- for reasons which already we have quoted. - Decided against assessee Whether the Tribunal should have remanded the matter to the Assessing Officer for examination of the source of the said amount? - Held that:- No further enquiry on facts required to be made which could have even remotely necessitated a remand. All the facts were there before the learned Tribunal.- Decided against assessee
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