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2015 (5) TMI 710 - AT - Income TaxUnaccounted deposits - CIT(A) deleted the addition - Held that:- Commissioner of Income-tax (Appeals) has correctly decided the issue because admittedly the assessee had disclosed a sum of ₹ 1.03 crores in the assessment year 2007-08, and a sum of ₹ 10 lakhs in the assessment year 2008-09. This amount was surrendered during the search and tax have been duly paid and the assessed income includes this amount of surrender. Further, cash is duly reflected in the wealth-tax return. Once the fact of having cash deposited by the Revenue during wealth-tax assessment proceedings, then later on the Revenue cannot challenge the existence of cash, therefore, we find nothing wrong with the order of the learned Commissioner of Income-tax (Appeals) and we confirm the same - Decided against revenue.
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