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2017 (4) TMI 519 - ITAT MUMBAIAddition of deposits as undisclosed income - Held that:- We find that there were three credits in the said Dena bank received by the assessee viz. Salary income, commission income and interest income which was claimed by the assessee to be declared by the assessee in the return of income filed with the Revenue and claimed to be offered for taxation voluntarily by the assessee in ROI filed with Revenue. We are of the considered view that the same income cannot be taxed twice, but aforesaid contentions of the assessee certainly need verification by the authorities below . As such, we remit this matter back to the file of the A.O. for verification in the said saving bank account of the assessee with Dena Bank and were already subjected to tax in ROI filed voluntarily by assessee with Revenue. Regarding the other additions as sustained by learned CIT(A) , as agreed and admitted by the ld. counsel for the assessee, we are confirming the said additions in the hands of the assessee. The AO shall grant proper and adequate opportunity of being heard to the assessee in accordance with principles of natural justice in accordance with law. - Decided partly in favour of assessee for statistical purposes.
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