Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (12) TMI 354 - AT - Income TaxUnexplained investment u/s 69B - CIT(A) deleted the additions - indirect evidence - recording of statement by coercion or threat - HELD THAT:- Shri Sanjay D Shah and Shri Jadavji Lalji Shah are not connected with the transaction or with the assessee. Further, no corresponding addition was made in the hands of Shri Narendra Kumar Sankla and Prem Kumar Sankla, even though the assessments in their cases were framed under section 143(3) by the ACIT, Hyderabad. Even the CIT(A) has categorically reproduced the remand reports of the respective AO’s of Shri Narendra Kumar Sankla and Prem Kumar Sankla. Both, Shri Narendra Kumar Sankla and Prem Kumar Sankla retracted the statement of cash received of ₹1.50 crores on behalf of assessee. We noted that the additional amount received by Smt. Dhanalakshmi and family has been accepted by the assessee and assessee also disclosed the said amount of ₹3 crores in its return of income and paid the taxes accordingly. We noted that the CIT(A) based on submissions and evidences decided the issue in favour of assessee by deleting the addition of ₹1.50 crores which was made by AO just on conjunctures and surmises. Hence, we find no infirmity in the order of CIT(A) deleting the addition - Decided against revenue.
|