Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (4) TMI 963 - AT - Income TaxUnexplained investment - Held that:- We wish to observe here that the CBDT’s circular dated 10.03.2003 already advises the search authorities to collect evidence pointing out any undisclosed income rather than recording admissions of the searched assessees. Hon’ble jurisdictional high court’s judgment in Kailashben Manoharlal Choksi vs. CIT (2008 (9) TMI 525 - GUJARAT HIGH COURT) also adopts the same very view. We therefore do not find any reason to interfere the CIT(A)’s conclusion hereinabove deleting the impugned addition of unexplained investment in all three assessment years in question Section 40(a)(ia) disallowances - failure in deducting TDS upon various C&F payments - Held that:- Both the learned representatives very much agree that this issue stands on identical footing as in former assessee’s case wherein we have directed the Assessing Officer not to make the impugned disallowance if it is found that the payees concerned have already been assessed to tax qua the payments in question as per 40(a)(ia)(2nd proviso). We adopt the very course of action herein as well in absence of any distinction on facts being pointed out in the course of hearing. This identical substantive ground is accepted for statistical purposes.
|