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2022 (11) TMI 579 - AT - Income TaxUnexplained cash credit u/s 68 - AO has not accepted the explanation of the assessee that previous year agricultural income was deposited - CIT(A) confirmed the order of the AO on the ground that in the assessment year under consideration, the assessee has not having any agricultural income - HELD THAT:- We find that neither the Assessing Officer nor the ld. CIT(A) disputed the agricultural income of previous assessment year - We are of the opinion that out of agricultural income which was left with the assessee, the amount of ₹.4,40,000/- was deposited in the bank account on 16.06.2009. So the assessee has explained the source and the onus are charged by disclosing the source. Therefore, we find that the addition made by the Assessing Officer and confirmed by the ld. CIT(A) cannot be sustained. Accordingly, we set aside the order of the ld. CIT(A) and delete the addition made by the Assessing Officer. Appeal filed by the assessee is allowed.
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