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2016 (7) TMI 568 - AT - Income TaxAddition u/s.69B - disclosed investment - expenditure non substantiated - Held that:- As regards the addition of ₹ 54,850/- u/s.69B is concerned the Ld.CIT(A) upheld the addition made by the AO on the ground that assessee has purchased the flat during the year for which ₹ 54,880/- was spent on stamp duty, registration charges and copying charges etc. Since the same was neither shown by the assessee nor by his spouse in their respective return of income and no evidence was produced to substantiate this expenditure he sustained the addition made by the AO. As regards the addition of ₹ 2,70,000/- on account of difference in opening and closing balances is concerned he upheld the addition made by the AO on the ground that the closing balance of capital as on 31-03-2008 was shown at ₹ 2,91,320/- whereas the opening balance as on 01-04-2008 was shown at ₹ 5,61,320/-. The assessee could not explain the difference of ₹ 2,70,000/- for which he sustained the addition. So far as the addition of ₹ 47,400/- u/s.69B is concerned he upheld the addition on the ground that the value of flat as per registered sale deed dated 22-01-2009 was ₹ 12 lakhs whereas the assessee has shown such investment by himself and in the name of his spouse at ₹ 11,52,600/-. Since the difference could not be explained the addition was sustained by the CIT(A). - Decided against assessee.
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