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2023 (5) TMI 1175 - ITAT SURATUnexplained cash credit - unexplained income - contention of assessee that cash deposit was out of cash withdrawal - As per revenue only source of income shown by the assessee is agriculture income , which may have been used for house hold purpose - HELD THAT:- Assessee except contending that the assessee has sufficient cash balance for making deposit in bank, has not explained the real source of cash and cheque deposits. We find that the assessing officer in his summary has clearly demonstrated the cheque deposits and immediate withdrawal or on deposits of money in cash immediately transferred by way of cheque, the assessee has failed to give any satisfactory reply against the finding of the assessing officer. As in full agreement with the observation of the assessing officer that the assessee has only shown source of income from agriculture activities. keeping in view the general practice in society that ordinarily peoples keep certain money in cash, therefore, by giving such benefits the assessee is granted benefit of Rs. 2,80,000/- and remaining addition of Rs. 22,00,000/- is upheld. Appeal of assessee is partly allowed.
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