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2017 (6) TMI 778 - AT - Income TaxAddition on account of alleged ‘on money’ given for purchase of flats - Held that:- The Department merely relied upon the statement of two person who were employees of a different group and there was no evidence with the Assessing Officer that in fact any ‘on money’ was paid in cash. Even in the statement tendered by these two employees, it has not been mentioned that in fact any cash was received by the group from the assessee over and above the payments made through banking channel. Even if the other group has made any disclosure before the Settlement Commission does not prove that any cash was received from the present assessee. Thus, considering the totality of facts we direct the Ld. Assessing Officer to delete the addition, which has been made purely on suspicion. Thus, the appeal of the assessee is allowed.
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