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2021 (8) TMI 121 - AT - Income TaxAddition on account of unexplained advance - HELD THAT:- Advance is a debit entry in the books of accounts and the same goes with balance sheet of the assessee and not charged to the profit and loss account. Since nothing has been charged to the profit and loss account, we do not find any logic in the impugned addition and the CIT(A) has rightly deleted it, which calls for no interference. Ground 1 is, accordingly, dismissed. Addition of unaccounted cash receipts on sale of properties - HELD THAT:- None of the buyers confirmed that they have paid anything to the assessee over and above the amount stated in the Builder – Buyer Agreement. Field enquiry made by the AO is conclusive evidence that no cash was exchanged between the buyer and the seller. The entire addition has been made on the basis of arithmetical calculation found in the loose sheet of paper. Onus is always on the revenue to bring demonstrative evidences on record to show that cash has changed hands from the buyer to the seller because the sale consideration of the seller is coming from payments made by the buyer and if the buyer categorically stated that they have not paid anything in cash, which enquiry was made by the Assessing Officer himself, the findings of the ld. CIT(A) cannot be faulted with. We, therefore, decline to interfere with the findings of the ld. CIT(A). This ground is also dismissed.
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