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2023 (4) TMI 185 - AT - Income TaxUnexplained jewellery - objection of the assessee that the AO failed to consider the explanation offered by the assessee and without confronting with the real owner of the jewellery he, in an arbitrary manner, made the addition - HELD THAT:- Before the Assessing Authority as stated that the jewellery found in the locker belonged to third party. We find merit in the contention of the assessee that without confronting third party who had herself confirmed about the ownership of the jewellery CIT(Appeals) was not justified in sustaining the addition - direct AO to delete the impugned addition. Hence, the ground of appeal is allowed. Addition u/s 69A on account of cash found during the search - In respect of this addition it is stated that a sum of Rs. 3,31,200/- belonged to the company namely M/s Dolsun Containers Pvt. Ltd. in which the assessee was a director. The agreement to sell is also placed on record. Considering the same as considered view that this evidence ought to have been considered and same could not be brushed aside. Therefore, the addition of Rs. 3,31,200/- out of Rs. 5,00,000/- in respect of cash found during the course of search is deleted. Remaining addition is sustained.
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