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2018 (2) TMI 2033 - ITAT HYDERABADAddition of on money payment as unexplained investment u/s 69 - CIT- A deleted the addition - HELD THAT:- We find that the CIT(A) has accepted the contentions of the assessee for giving relief to the assessee. We find that the assessee has filed the cash flow statement of Smt. Sulochanamma and the details of the cash gifts to the assessee and the cash for this purpose is drawn from her UTI, now Axis bank account. We find that the copies of the bank statements of UTI, now Axis bank are filed to demonstrate that the cash gifts were given by Smt. Sulochanamma to the assessee. We also find that initially, the assessee had claimed that the cash gifts are from Canara Bank, but before the CIT(A), it was submitted that it was from Axis Bank. Smt. Sulochanamma is proved to be a person with means, and the claim that she has gifted the money to the assessee has been proved. Therefore, we do not find any reason to interfere with the findings of the CIT(A). - Appeal filed by the Revenue is dismissed
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