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2020 (4) TMI 533 - AT - Income TaxUndisclosed investments u/s 69 - cash loan given - Addition on the basis of said lose papers seized and statement recorded of the assessee during the course of search - CIT (A) also confirmed the fact that “the three unsigned receipts are incriminating documents found in the search and seizure action u/s 132, which shows actual transactions have been taken place - HELD THAT:- On going through the entire factual position, we are unable to accept with the observation of the ld. CIT (A) who has confirmed the addition and at the same time accepting the fact that the receipts are unsigned and yet treating them as incriminating documents. Going through the statements of the assessee as well as the counter parties, affidavits, the receipts per se and also the observation of the ld. CIT (A) that the receipts are unsigned, we hereby hold that no addition is called for based on these documents and hence, the addition made by the Assessing Officer on this account is hereby directed to be deleted. - Appeal of the assessee is allowed.
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