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2018 (6) TMI 166 - AT - Income TaxAdditions made u/s 68 as unexplained credit - Held that:- The affidavit filed by the assessee was not examined by the lower authorities - it is incumbent upon the lower authorities to examine the deponent therein and thereafter, accept or reject the same. It is not appropriate to overlook the affidavit filed by the assessee without examining the deponent therein - thus we remit this issue to the file of the AO for consideration of the affidavit in accordance with law after giving opportunity of hearing to the assessee - partly allowed for statistical purposes. Additions u/s 68 - Held that:- The facts of this issue are similar to the facts in the assessment year 2009-10 the issue is remitted to the file of the AO for the purpose of examining the affidavit filed by the assessee. Addition made towards investment as advance for purchase of land - Held that:- The letter filed by the assessee stating that the assessee has not invested in the company M/s. Parathode Granites Pvt. Ltd. does not borne out of records and thus the letter is a self serving document, not corroborated by any evidence and this letter cannot be acted upon - hence addition made by the AO is to be confirmed.
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