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2019 (2) TMI 1512 - AT - Income TaxAddition u/s 68 - Addition towards deposits in the SB accounts of Catholic Syrian Bank and SBI - assessee is basically an agriculturist, having substantial holding of land - CIT(A) was of the view that the conduct of the assessee in submitting the details and documents requisitioned by the Assessing Officer was not satisfactory - HELD THAT:- CIT(A) directed the Assessing Officer to give credit for agricultural income, sale of land and past withdrawals. The assessee had also not disclosed the professional income. The assessee tried to prove source by way of personal loan from 3 people of ₹ 1 lakh each, for which he had not furnished either the confirmation or the PAN of the parties concerned. It was observed that no prudent person would take loan, when he already has substantial money with him. Since the assessee had also not expressly stated whether these were cash loans or not to explain the source of the deposits, the CIT(A) correctly doubted the genuineness of transaction -assessee had not been able to explain the sources for ₹ 3 lakhs out of ₹ 49,22,000/- deposited in various Bank accounts. - Decided against assessee Disallowance u/s. 80C - payment of tuition fees - HELD THAT:- The deduction claimed u/s. 80C is to be allowed u/s. 80C(2)(xvii) of the Act which states that tuition fee/education fee paid by a parent towards education of his/her children is entitled for deduction. The assessee is entitled for deduction to the tune of ₹ 1.5 lakhs under this provision subject to the provision of section 80C(4)(c) of the Act on furnishing the requisite details. Regarding deduction u/s. 80C, the assessee has not produced any details of payment of tuition fees for the year under consideration before AO. As such, we remit this issue to the file of the Assessing Officer with a direction to the assessee to furnish the details of payment of tuition fees before the Assessing Officer and thereupon decide the same. With regard to deduction u/s. 80TTA, the assessee has also not furnished the details of interest income earned on saving Bank account. As such, we remit this issue to the file of the Assessing Officer with a direction to the assessee to provide necessary details. These grounds of appeal of the assessee are partly allowed for statistical purposes.
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