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2023 (3) TMI 913 - AT - Income TaxAddition on account of salary income - AO noted that the assessee has received a sum as compensation on resignation from the company and the same was not disclosed in the return of income - Also Amount received from company was on behalf of the mother-in-law cannot be accepted as the company have directly refunded the amount to assessee’s mother-in-law to her bank account and there is no requirement to give the same to the assessee - HELD THAT:- This income has been explained by assessee and even otherwise it is not clear from the assessment order that how the AO is making addition because the salary income narrated by AO in his order is deleted by CIT(A) because the assessee has already declared this amount under the head salary. Hence, delete the addition and allow this issue of assessee’s appeal. Unexplained investment - HELD THAT:- Even from the fund position as noted by the AO there is withdrawal from father’s bank account maintained at SBI, Vadavalli, an amount of Rs.2,40,000/- and withdrawal of Rs.7,00,000/- on 05.03.2012, total comes to Rs.9,40,000/- whereas investment is only Rs.9,39,320/-. It means that the investment and withdrawal matches. Allow this issue in favour of assessee. Unexplained cash credit u/s 68 - HELD THAT:- As assessee could not produce any evidence as was the situation before AO, as was the situation before CIT(A). In absence of any documentary evidence or explanation, confirm the addition. Unexplained cash deposits - assessee filed confirmation from the depositor and lady, who claimed to have been the cousin of the assessee - HELD THAT:- CIT(A) noted that she was a school teacher earning Rs.23,000/- per month and hence, he has not accepted the cash deposit of Rs.59,000/- received from her. Even now before us assessee could not file any evidence or explanation to explain this credit entry - dismiss this ground.
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