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2010 (9) TMI 118 - HC - Income Taxsearch and seizure - share application money which belonged a company of which assessee was the director on the day of search - AO did not accept the explanation given by the respondent-assessee - cash transition is only accommodative in nature to explain the availability of cash found at the time of search – Held that: - assessee has filed all the evidences of availability of cash - which is assessed u/s 143(2) - No defect has been pointed out in the explanation given by the assessee - no infirmity in the order of the ld. CIT(A) who has rightly deleted the addition made by the AO – Accordingly appeal is dismissed.
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