Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (11) TMI 140 - AT - Income TaxShortage of physical cash-in-hand - Difference in cash balance appearing in the books of the appellant and in hand - survey action u/s 133A - unaccounted purchase of jewellery - HELD THAT:- Cash shortage can be given against the unaccounted purchase of jewellery. Revenue did not have any evidence to show that the short cash was utilized elsewhere. Following the parity of reasoning, the said issue should be allowed in favour of the assessee. Therefore, it is directed to the AO and the CIT(A) to delete the entire addition made on account of unaccounted purchase of jewellery as well as cash shortage. Thus, the ground no.2 raised by the assessee is allowed.
|