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2018 (10) TMI 1220 - AT - Income TaxUnaccounted income of the assessee - proof of loan advanced to the assessee - proof of withdrawal of money - Held that:- In the unregistered agreement dated 23/09/2006, there is no reference to Mr. M. Viswa Mohan. It is only entered by Mrs. K. Bhanumathi. That apart, CIT(A) gave a categorical finding that there were no withdrawals from his bank account; that apart neither Mrs. K. Bhanumathi nor Mr. M. Viswa Mohan has made a mention about the details of the payment i. e. when money has withdrawn, how much money was withdrawn, how much was paid etc. Therefore, when huge money is advanced to the assessee on the guise of unregistered sale agreement in 2006 in so far, the assessee either executed the sale deed or repaid the amount. There is no correspondence available on record to show that subsequent to the payment of the advance, neither by Mrs. K. Bhanumathi nor by M. Viswa Mohan made any efforts to receive the amount or to register the sale deed in their favour. Under these facts and circumstances of the case, these confirmation letters issued by both the parties Mrs. K. Bhanumathi and Mr. M. Viswa Mohan cannot be considered as evidence that the assessee has received amount from the above parties. In view of the above, we are of the opinion that the Assessing Officer has rightly made the addition as unaccounted income of the assessee and the same is confirmed by the ld. CIT(A). - decided against assessee.
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