Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (10) TMI 692 - AT - Income TaxDeposits from unexplained sources addition u/s 68 - Held that:- The assessee does not maintain any books of account. Under these circumstances, no addition can be made u/s 68 of the Act. Even otherwise, the alternative contention of the assessee that the peak credit has to be taken into account by considering both the bank accounts has much force. On a perusal of the cash credit of the peak submitted by the assessee, the addition cannot be sustained. On this ground also the addition cannot be sustained. - Decided in favour of assessee
|