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2017 (6) TMI 344 - AT - Income TaxAddition on account of difference between 26-AS & return of income - Held that:- We take notice of the persistent claim of the assessee that the differential receipt of ₹ 15,24,175/- has been duly and correctly recorded in the hands of the Pvt.Ltd.Co. which has ultimately taken over the business of the present assessee. If that is so, the department ought to have taxed the receipt in the hands of one person who is rightful and legitimate claimant of the receipt. We find that the CIT(A) is merely influenced by the claim of TDS by Assessee herein without declaring the corresponding receipt which, in our view, cannot be seen in isolation to the other attendant facts. The CIT(A), in our view, has accordingly committed error in not appreciating the facts in perspective. We consider it just and expedient to remitting the matter back to the file of the AO for de novo adjudication of the issue in accordance with law after examining the attendant facts for rightful taxation of differential receipts in question. - Decided in favour of assessee for statistical purposes. Claim towards purported cost of improvement disallowed - computation of capital gains - Held that:- We find that in support of the cost of improvement so claimed, the assessee has failed to adduce any proper evidence. The assessee has only relied on its claim on the basis of two loans of ₹ 3 lacs and ₹ 1,98,000/- as noted above. However, there is no evidence on record to establish that the aforesaid loans were actually spent on improvement of house. There is nothing on record to suggest that any payment was made through banking channels. No bills, vouchers etc. relating to purported cost of improvement were produced before the lower authorities or before us. Thus, the assessee has failed to establish the veracity of impugned claim. The loan statement is extraneous for determination of issue. Consequently we find no reason to interfere with the order of the CIT(A) in disallowing the claim of the expenditure toward cost of improvements. - Decided against assessee.
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