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2017 (1) TMI 1157 - HC - Income TaxUnaccounted money - Held that:- The solitary basis for addition of over ₹ 1.67 crores was the chart recovered from the premises of Mr. B. K. Dhingra. Whatever be the facial indications, one thing is apparent i.e. that it revealed some amounts were paid by the third parties. The details of cheques and other particulars were reflected in the charts. As correctly observed by the ITAT, the evidentiary value of these charts, as far as the assessee was concerned, could not be conclusive given the fact that it was neither the searched party nor was a party receiving notice under Section 153C of the Act. Under the circumstances, the AO could have added these amounts only if he had made a searching enquiry into all the circumstances. That the amounts were reflected by way of cheques and these cheques were entered in the charts is not in dispute. If such is the case, whether those amounts were reflected in the assessee’s Bank accounts or not and were encashed by some other entity was a matter of appropriate enquiries. The AO’s failure to do so could not have resulted in the assessee being taxed for those amounts. - Decided in favour of assessee
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