Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (5) TMI 159 - AT - Income TaxAddition of unexplained income u/s 68 - amount received as cash deposits - assessee claims that it had received trading deposits - it was found by the AO that assessee is giving conflicting statements as some time the assessee is claiming to be sub-broker and while some time the assessee was claiming that he is not sub-broker but trader in shares - Held that: - the confirmations from these creditors carrying name, address and PAN were filed but copies of tax-returns of these creditors were not filed by the assessee - all these confirmations from creditors filed by the assessee need verification by the authorities below so as to ensure that mandate of Section 68 of 1961 Act was fulfilled - appeal allowed by way of remand.
|