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2016 (11) TMI 1240 - AT - Income TaxUnexplained income under section 69A - unexplained cash deposits - Held that:- On perusing the affidavit that has been filed by the assessee before us, we find that if the assessee has inter-alia contended that the source of cash deposits to be out of agricultural activities and sale of agricultural land and that he was never told by his tax consultant that proceeds of agricultural land had to be co-related with the cash deposits in bank and that assessee has now found link of cash deposits with supporting documents of sale of land, receipt of cheques, deposits in bank and withdrawal from one bank and deposit it another bank account. We find that the aforesaid affidavit has been furnished before us for the first time and therefore the lower authorities did not have an opportunity to examine the contents of the affidavit. Considering the submissions of ld. AR, the additional evidences submitted are admitted. However, since these evidences were not available before the lower authorities, we are of the view that in the interest of justice and fair play, the issue raised in appeal needs to be considered afresh in the light of additional evidences submitted by the assessee. - Decided in favour of assessee for statistical purposes.
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