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2022 (1) TMI 371 - AT - Income TaxTaxability of the credits appearing in the bank account of the assessee with ICICI Bank - addition made as no explanation to source of cash deposits given - HELD THAT:- As before the AO no details were filed as to the source of deposits of the said sums. However, before the ld. CIT(A), the assessee had attempted to explain the source of deposits as advance received towards sale of land from Mr. Dharumbre and M/s. Prayas Buildwell Pvt. Ltd. and the cash deposits are stated to be made out of opening balance and withdrawal of the cash from the bank - before the ld. CIT(A) no confirmations from the parties from whom advance was received was filed and similarly the proof as to the existence of opening cash balance as well as cash withdrawn from bank was not filed - CIT(A) was justified in rejecting the explanation offered in support of the credits appearing in the bank account of the assessee. Accordingly, we uphold the order of the ld. CIT(A). We do not find merit in the appeal filed by the assessee.- Decided against assessee.
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