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2017 (12) TMI 932 - HC - Income TaxRevision u/s 263 - unexplained income of firm - amount of cash was brought to the partnership firm by two partners - guinity of gifts - Held that:- As assessee has given support of the gift or the amount received from the particular person with necessary documents, such as, copies of demand drafts and cheques etc., no addition could have been made by this appellant in respect of the amount received by the assessee. Under Section 68 of the Income Tax Act, the Assessing Officer while assessing a Partnership Firm, can go behind the source of income of the partnership firm, but he cannot go to “source of source”. The aforesaid aspect of the matter has been properly appreciated by the Income Tax Appellate Tribunal by allowing the appeal preferred by the respondent – assessee and no error has been committed by the Income Tax Appellate Tribunal, Circuit Bench, Ranchi. In view of all so far as the question raised by the appellant is concerned, no error has been committed by the Income Tax Appellate Tribunal in quashing and setting aside the order passed by the Commissioner of Income Tax under Section 263 - Decided in favour of assessee.
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