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2016 (9) TMI 339 - HC - Income TaxSale of land - chargeable income - Addition on cash deposits in the State Bank of India and Axis Bank - Held that:- Commissioner, being of the view that the cash deposits made by the assessee in his saving bank accounts maintained with the Axis Bank and State Bank of India had nothing to do with the sale of land by his father and his uncles, dismissed his appeal, which gave him a cause to file an appeal before the Tribunal. The facts, as referred to above, were gone into by the Tribunal and agreeing with the Assessing Officer and the Commissioner, the Tribunal, gave its stamp of approval to the orders passed by them by dismissing the appeal of the assessee. The afore-referred inconsistencies in the stand of the assessee, were noticed which led to the rejection of the appeal of the assessee. Thus, the factual position brought forward by the assessee, to explain the cash deposits made by him in his saving bank accounts, were concurrently considered and rejected by both – the Commissioner as also the Tribunal. After having gone through the same, we find no absurdity or perversity in them warranting any interference on our part.
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