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2018 (9) TMI 1746 - AT - Income TaxAssessment u/s 153A - rejecting the claim of the assessee of cash on hand - Held that:- addition has been made not on the basis of any incriminating material found during the course of search but it is on the basis of rejecting the claim of the assessee of cash on hand. A.R. has placed reliance on the decision of coordinate bench in the case of Anant Steel Pvt. Ltd. Vs. ACIT [2015 (11) TMI 1758 - ITAT INDORE] Ld. D.R. could not controvert the submissions of the assessee that no incriminating material was found. Moreover, we find that the addition is sustained merely on the basis of the presumption. We therefore, direct the A.O. to delete this addition. - Decided in favour of assessee
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