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2015 (1) TMI 440 - HC - Income TaxViolation of Sections 269SS and 269T - Receipt and payment of cash loan along with interest - Unexplained income - Surrender of Income - Tribunal deleted whole addition made by Assessing Officer - Held that:- substantial surrender was made during the course of search. Reference was made to the statement of Yogesh Gupta wherein he had accepted that there were unaccounted for transactions in cash, but no question was put to him about the details of the writer or the recipient i.e. the details of the person, who had received the said amounts. At that time, the officers were duly satisfied with the investigation and the surrender. It is further recorded that the allegation that loans/deposits must have been taken in cash was a mere suspicion, which could have been a cause for further verification and investigation, but mere suspicion cannot be a ground to hold that loan/deposits were received in cash - Revenue has not filed before us any document or material to show that in fact loan was taken and interest payment was made. The persons to whom allegedly interest was paid, their details and particulars were not ascertained, verified and examined - Following decision of assessee's own previous case [2015 (1) TMI 420 - DELHI HIGH COURT] - Order of tribunal is not preverse - Decided against Revenue.
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