Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (5) TMI 396 - ITAT MUMBAIAddition made u/s 69 of the Act – Jurisdiction of the AO - Re-opening of assessment u/s 143(3) r.w.s. 147 of the Act – Insufficient evidences - Held that:- Revenue could not bring any cogent material evidence on record to show what happened in the case of other named persons - the presumption u/s 132(4A) is in respect of person in whose possession the books of accounts and other documents etc. are found - diaries were found during the course of search in the case of Dr. D.Y.Patil Group premises presumption may be valid against that group but cannot be stretched to the assessee - The provisions of section 69C of the Act clearly show that it was for the revenue to first establish that the assessee has incurred certain expenditure and then the assessee does not offer any explanation about the source of such expenditure - the assessee has paid Rs.1,60,000/- to M/s Ramarao Adik Education Society - revenue has grossly failed to demonstrate that the assessee has paid donation /capitation fees for the admission of her son to Dr.D Y Patila Medical College - the additions cannot be sustained on the strength of insufficient evidence - The finding of the CIT(A) is reversed – Decided in favour of Assessee.
|