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2021 (7) TMI 800 - AT - Income TaxUnexplained source of the cash deposits - According to the assessee, he stated receipt in cash on sale of shop, furniture and closing stock of textile, whereas according to the AO, the assessee stated receipt on sale of the shop only and in the registered deed, sale of the shop is recorded only at ₹ 6 lakhs and therefore balance ₹ 24 lakh received falls under the head ‘income from other sources’ being premium received on sale of shop - HELD THAT:- CIT(A) rejected the contention of the assessee mainly due to lack of evidence in support of the claim of the assessee. Before us, the learned counsel submitted that the assessee is willing to submit necessary documentary evidence in support of its claim of sale of closing stock of the textile and realisation of the debtors. We set aside the order of the Ld. CIT(A) and restore the matter back to the file of the Assessing officer for deciding afresh with the direction to the assessee to file all the necessary documentary evidences in support of his claim. Appeal of the assessee is allowed for statistical purposes.
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