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2020 (10) TMI 97 - HC - Income TaxAddition u/s 68 - unexplained cash credits - Tribunal restricting the addition to the extent of 2% of the total credits - as per revenue assessee has failed to prove the source of credits, genuineness and creditworthiness of depositors - HELD THAT:- CIT(A) thought fit to compute the profit at the rate of 8% of the turnover. However, the Tribunal noticed that such computation was without any basis or materials on record. Ultimately, the Tribunal thought fit to estimate the income at the rate of 2% of the amount deposited with the bank. If such is the view of the Tribunal,, then, in our opinion, we should not disturb the same. No substantial question of law.
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