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2022 (6) TMI 1001 - AT - Income TaxUnexplained cash credits in bank - undisclosed income of the assessee - HELD THAT:- CIT(A) held that the credits / deposits in the bank account of the appellant are from 10 different parties transactions which have been duly verified by the AO during the remand proceedings. AO in order to verify the transactions have called for relevant documentary evidences from the parties in the form of confirmed ledger account, ITR and bank statement which have been duly submitted by all the parties. Assessing Officer has not doubted the documentary evidences submitted by the parties and the assessee. The Assessing Officer in order to verify the genuineness of the claim of the assessee has also stated to have recorded statement under oath and field enquiries of some of the parties. In addition these documents, the assessee has also submitted the purchase and sale register of the proprietorship concern along with VAT return as additional evidences. These documentary evidences submitted by the assessee have not been doubted by the Assessing Officer in his remand report neither has he pointed out any discrepancy in the same. Owing to the remand report submitted by the Assessing Officer after conducting due enquiries, the ld. CIT(A) has deleted the addition made by the AO as no discrepancies were found by the AO during the remand proceedings. In a way, the remand report has given a clean chit to the affairs of the assessee. Hence, the decision of the ld. CIT(A) which was wholly based on the remand report cannot be interfered with. Appeal of revenue dismissed.
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