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2021 (1) TMI 888 - HC - Income TaxAddition u/s 68 - Tribunal upholding the order of the CIT(A) deleting the addition - HELD THAT:- CIT(A) has recorded a finding of fact that nothing has been retained by the assessee, which has been considered as unexplained cash credit. The assessee has explained fund flow i.e. demonstrating transactions were back to back, and were in the nature of accommodation entries. CIT(A) has held that alleged ₹ 1,57,10,000/ was not earned from any business activity but from other sources of income. This was to be assessed under the head "income from other sources". Contrary to the above factual finding of the ld. CIT(A), neither Revenue has filed any evidence, nor assessee has filed any paper book. It has not been brought to our notice, as to how these analysis are contrary to the record. Therefore, we are of the view that the ld. CIT(A) has made a lucid analysis of the record available before her, and appreciated the controversy in right perspective. We do not find any merit in the ground of appeal raised by the Revenue challenging deletion of addition - Decided against revenue.
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