Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (2) TMI 424 - AT - Income TaxAddition u/s 68 - addition of the cash deposited in the bank account - HELD THAT:- We have given a thoughtful consideration to the issue before us and are persuaded to subscribe to the claim of the ld. A.R that as the bank account or bank passbook of an assessee cannot be held as his 'books of account', hence, no addition in respect of a simpliciter cash deposit made in the said account could validly be made under Sec.68 of the Act. Our aforesaid view is fortified by the judgment of CIT Vs. Bhaichand H. Gandhi [1982 (2) TMI 28 - BOMBAY HIGH COURT] - Decided in favour of assessee.
|