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2018 (9) TMI 803 - HC - Income TaxAddition u/s 68 on account of “unexplained cash credits” - Held that:- The assessee had explained that she was a member of International Air Transport Association. She used to book domestic and international air tickets of various national and international airlines. She had voluminous turnover from which she earned sizeable commission. She had employed several employees for booking the tickets and looking after the financial transactions. She had several customers for whom she would make such bookings. The commission was paid by the Airlines through the banking channel. There was thus no cash element or scope of any cash transactions. She was maintaining her books of account which were duly audited. During the survey, the Revenue authority had a chance upon some such papers in which jottings were made by the employees with regard to financial details with the assessee. They merely contain certain receivable amounts from the customers which could not be construed as cash transactions. The Tribunal accepted such explanation and endorsed substantially the view of CIT [A] who also looked into these very papers and transactions. The entire issue is thus based on factual considerations. With respect to deletion of addition of ₹ 36.50 Lakhs to which second proposed question of law relates, the CIT [A] in particular had come to a conclusion that such addition was already made in the earlier year and second time, this cannot be added.
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