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2018 (1) TMI 1150 - AT - Income TaxUnaccounted income received from Red Chillies - addition has been made on the basis of documents seized during the search from the premises of Personal Secretary of the assessee - CIT-A deleted the addition - Held that:- It is not the case of the Revenue, the difference amount which has been explained to be included in the head of unidentified parties is of any different amount. Hence, if the receipt shows unidentified parties and the same is exactly agreeing with the difference between the receipt shown from Red Chillies and its difference from the agreement, the assessee’s explanation that the same is actually an amount received from Red Chillies deserves to be accepted. Hence, the submission of the assessee is cogent and the addition in this regard is not justified. - Decided in favour of assessee Unaccounted income received from London Speaker Bureau-Global Leadership Forum 2006 - contention of the assessee that the loose paper found was a draft unsigned contract for attending the event namely the Global Leadership Forum 2006 for a consideration of US $50,000 - Held that:- The assessee has not produced any evidence or any letter whereby she has demanded the balance amount to be paid. It is quite unbelievable that in an international performance engagement, the assessee will be paid only half the amount after the performance and she will not make any presentation or submission for realization of the same. Hence, in our considered opinion that addition is based upon cogent material and the assessee has not been able to dislodge the same. Commissioner of Income Tax (Appeals) has deleted the addition on irrelevant reasoning. The addition has not been made on jotting in a loose sheet. Rather, it is based upon a full fledged engagement letter, the veracity of which has not been doubted. Furthermore, the case laws referred by the ld. Commissioner of Income Tax (Appeals) are in context of different facts and circumstances not applicable here - Decided against assessee
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