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2019 (6) TMI 438 - AT - Income TaxAddition u/s 68 - unexplained deposits in the bank account - creditor submitted that the amount was given out of her streedhan received from her father - HELD THAT:- No evidence was furnished by the assessee either before the Assessing Officer or before the ld.CIT(A) or before the Tribunal to establish that she had received streedhan of ₹ 50,000/- and given the same as hand loans to the various persons. The creditor is not an income-tax assessee. No details such as names and addresses of the persons to whom the hand loans were given, date of lending, interest received and the date of repayment etc. were filed. The letter filed by the creditor is a general letter without furnishing specific information, such as the date of receipt of streedhan and the cash flow till April, 2014. Therefore, we are unable to accept the contention of the assessee that the loan received from Smt. G.Lakshmi Bhavani as a genuine. The assessee failed to prove the creditworthiness and genuineness of the source, hence, we do not find any infirmity in the order of the ld. CIT(A) and the same is upheld. Loan from Sri Kodali Murali Mohan - the assessee has furnished the confirmation letter and also evidence for agricultural land holdings. The Assessing Officer simply scrutinized the confirmation letter and made the addition instead of examining the donor. Since the assessee prima-facie has furnished the evidence for agricultural land holdings and also explained in the confirmation letter that creditor was having salary income and agricultural income, the Assessing Officer required to examine the source in detail in the hands of the donor before making the addition. Therefore, we are of the considered opinion that the issue should be remitted back to the file of the Assessing Officer to examine the creditworthiness and genuineness of the source of gift and decide the issue on merits. - Appeal of the assessee allowed for statistical purpose.
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