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2017 (6) TMI 437 - AT - Income TaxAddition u/s.69A - unexplained money - Held that:- Assessee has been able to prove the identity, genuineness and creditworthiness of the cash credits of ₹ 57,00,000/- received from following four parties who appeared before the assessing authorities and accepted to have provided cash to the assessee with the documents showing agriculture land ownership. Except the above said five parties, assessee has been unable to satisfy genuineness and creditworthiness of cash creditors of ₹ 12,48,000/-. We therefore in the given facts and circumstances of the case partly allow the assessee’s appeal by deleting addition of ₹ 57,00,000/- and confirm the remaining addition of ₹ 12,48,000/- u/s. 69A of the Act.
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