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2016 (9) TMI 264 - HC - Income TaxUnexplained investment u/s 69B - Applicability of Sections 64 and 65 - clubbing of income - assessee's wife and son are the Directors of M/s. Avis Motors Pvt. Ltd. - Held that:- We are unable to understand the grievance of the Revenue before us. This was not the case of the Revenue at any time right upto the Tribunal. This is also not a ground taken in the memo of appeal. Therefore, this issue does not arise from the impugned order of the Tribunal. We find that both the CIT(A) as well as the Tribunal have on the basis of the evidence before it, rendered a finding that the document does not indicate that the amount of ₹ 4.22 crores has been invested by the respondent assessee in M/s. Avis Motors Pvt. Ltd. This is more particularly so as the entire case of the Revenue is on the document which is found in possession of a third party, indicating certain amounts payable by the respondent assessee, when the same has been denied by the respondent assessee at all times. This denial on the part of the respondent assessee of the document has not been addressed to by the Revenue. No additions - Decided against the revenue.
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