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2021 (1) TMI 1003 - AT - Income TaxUnexplained cash credit u/s 68 - loan taken from M/s. Annapurneshwari Rice Industries a partnership firm and one Mr. Nagaraj is a partner of this firm - HELD THAT:- Without examining Mr. Nagaraj, it is not possible to conclude that the sum which was added as unexplained cash credit in the hands of the assessee is unexplained cash credit. If on examination of Mr. Nagraj, admits having given ₹ 20 lakhs then the addition in question cannot be sustained. In such an event the assessee should be considered to have explained the source of the credit. In the set aside assessment it will not be permissible to examine the source of Mr. Nagaraj as that would amount to examining source of source. With these observations, we set aside the order of the CIT(A) and allow the appeal of the assessee for statistical purposes.
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