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2017 (3) TMI 799 - AT - Income TaxAddition u/s 68 by the AO - CIT(A) confirmed the additions u/s 69 - nature of deposit / credited into the bank account - unaccounted money - Held that:- The assessee is right when he says that the provisions of section 68 cannot be applied to amount credited in the bank account. Also further note from the same para that Ld. CIT(A) was wrong in observing that the provisions of section 69 would quite clearly apply to amounts deposited into the assessee’s bank account, which was not under the grounds of appeal or cause of action. The provisions of Section 292B of the I.T. Act, 1961 are also not applicable because there is no mistake, the AO has made the addition u/s. 68 with the clear mind and after satisfaction. - Decided in favour of assessee
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