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2021 (1) TMI 666 - AT - Income TaxAddition u/s. 41(1) - certain creditors which remained outstanding from the preceding year - HELD THAT:- It is a matter of record that the assessee paid the amounts to some of the parties in the F.Y. 2014-15, whose copies have also been reproduced in the impugned order. CIT(A) has doubted the genuineness of the transactions on the ground that cash payments could not have been made because all such parties were coming from Kerala. Once the assessee furnished ledger accounts of the parties evidencing the making of payments in a succeeding year that established the existence of liability at the end of the year under consideration non-justifying the applicability of section 41(1) - Here is a case in which some of the parties sent confirmations with their ledger accounts to the AO through the assessee. AO simply doubted the genuineness of e-mails without brining anything concrete on record as to their non-genuineness.Thus the case is not covered u/s.41(1) calling for any addition - Decided in favour of assessee.
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