Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (6) TMI 257 - ITAT KOLKATAUnexplained money u/s 69A - cash deposits during demonetisation period by invoking the provisions of section 115BBE - HELD THAT:- Since the addition made u/s 69A of the Act has already been deleted by the ld. CIT(Appeals), wherein AO has wrongly invoked the provisions of section 115BB therefore, Grounds become infructuous as already decided in favour of the assessee by the ld. CIT(Appeals). Miscellaneous income - AO confronted the assessee to explain the nature of the said miscellaneous income, but could not get satisfactory reply, as a result of which, treated it as income from other sources - HELD THAT:- Miscellaneous income mainly constitutes grant received from the West Bengal Government for various activities as per its registered bye-laws. No reason to treat any of the element of miscellaneous income enumerated above as income from other sources. Since the alleged sum is the income earned by the Society for the purpose of its objects, the same is eligible for deduction under section 80P - Decided in favour of assessee.
|