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2021 (2) TMI 638 - AT - Income TaxUnexplained bank credit entries - CIT(A) deleted the addition while admitting addition evidence in the form of confirmations, in violation of provisions of Rule - 46A(3) of Income Tax Rules, 1962 - AO argued CIT-A deleted addition on non examining the chargeability of the source of such entries to Income Tax and without giving opportunity to AO to examine the same - HELD THAT:- The entries considered by the Assessing Officer includes bank reversal entries too. The explanation of the credit entries has been examined which are received from Ansal Properties Ltd., The Seth Vihar, CGHS Ltd. and the remaining from flagship company of the assessee. There has been an unreconciled difference of ₹ 8,84,500 /- which has been already declared as business income of ₹ 20,00,000/- in the return filed in response to the notice u/s 153A of the Income Tax Act, 1961. Since, the balance amount stands offered to tax and the other credit entries have been duly explained. We decline to interfere with the order of the ld. CIT (A) on this issue. Undisclosed income on sale of flats - undisclosed income assessed in the hands of the assessee on protective basis - documents seized during search in GTM Group and impounded during survey u/s 133A showing payments to the assessee - HELD THAT:- The amounts were held to be received from sale of flats. The matter has already been dealt in the case of GTM Builders & Promoters Pvt. Ltd. [2021 (2) TMI 597 - ITAT DELHI] A.Y. 2006-07 under the head unaccounted income from sale of flats in Cooperative Societies vide para no. 30 to 32 wherein it was held that the addition was unwarranted. Revenue appeal dismissed.
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