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2023 (12) TMI 861 - AT - Income TaxUnexplained investments - cash payment from undisclosed sources for purchasing a shop - CIT(A) deleted addition - HELD THAT:- Gujarat High Court in the case of Krishna Textiles vs CIT [2008 (7) TMI 291 - GUJARAT HIGH COURT] has held that assessee cannot be called upon to explain the source of income, even if credited by the third party as assessee claimed that no such amount was invested or paid by it to third party. In this case addition was sought to be made on the basis of entries in the books of third party showing payment made by assessee to said party. We have no hesitation in upholding the order passed by the Ld. CIT(A) who deleted the addition as unexplained investments in the hands of the assessee. Thus we do not find any merits in the grounds raised by the Revenue and the same is hereby dismissed.
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