Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (11) TMI 419 - ITAT, AHMEDABADUnaccounted deposits in bank - Held that:- The assessee has explained the source of cash deposits from cash withdrawal, opening balance consisting of gifts and business Income. The assessee’s explanation that the gifts received in earlier years were of small amounts and not liable to tax and therefore no return was filed. This explanation, considering the amount appears to be plausible explanation - no addition is called for in the present case - in favour of assessee.
|