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2023 (10) TMI 622 - AT - Income TaxUnexplained expenditure u/s 69C - Addition emanated from noting in a diary found during search conducted on the assessee’s premises - CIT(A) deleted addition - HELD THAT:- There was no categorical admission by the assessee of the notings in the diary as all pertaining to him in his personal capacity, on the contrary he had stated that it related to his business also. CIT(A) has found that all income relating to entries noted in the diary stood disclosed by the partnership to and accepted by the settlement commission. This fact is not disputed before us - we agree with the CIT(A) that the objection of the ld.Pr.CIT to the ITSC being overruled by acceptance of income by ITSC, the said objection was irrelevant to merit any consideration while framing assessment in the hands of the assessee. Where the assessee had stated the notings in the diary as relating to his business and which stood disclosed by its partnership firm to the settlement commission, who in turn accepted the same also, we find no reason to interfere in the order of the CIT(A) deleting the addition made in the hands of the assessee finding the said income to be doubly assessed to taxed. Decided in favour of assesse.
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