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2020 (3) TMI 119 - AT - Income TaxUnaccounted interest income - Addition based on seized papers - HELD THAT:- In the seized paper name of the assessee is not mentioned. It is stated cash paid to BDR through Mr. Rajesh and Mr. Vikram. No statement of Mr. Rajesh and Mr. Vikram, if any, have been mentioned in the assessment order. It is not clear whether any interest have been paid to the assessee or not. Since the laptop and seized Diary belong to Shri Ravinder Gupta and his statement was recorded under section 132(4) of the I.T. Act in the course of search in their ASL Group of cases and he denied in his statement to have made any interest payment to assessee, therefore, no liability could be fasten on assessee to prove that assessee received any interest. In the absence of any evidence connecting the assessee with the receipt of interest, the Ld. CIT(A) rightly came to the conclusion that it is not a case of making addition against the assessee. The above decisions relied upon by Learned Counsel for the Assessee squarely apply to the facts and circumstances of the case and supports the finding of fact recorded by the Ld. CIT(A) that it is not a case of making any addition against the assessee.. - Decided against revenue
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