Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (7) TMI 808 - ITAT DELHIAddition on protective basis - Held that:- From the orders of the authorities below we find that the assessee was a joint account holder along with his mother in the bank account maintained at branch of Axis Bank at Kolkata. The assessee as well as his mother has accepted the bank account as pertaining to the business activity of the mother of the assessee. This fact has not been disputed by the Assessing Officer also. He has made addition on protective basis only to protect the interest of the Revenue in case the addition was not considered in the hand of mother of the assessee . But we find from the order of the learned Commissioner of Income-tax (Appeals), that the amount of cash deposit was duly considered in the assessment of mother of the assessee. We find that issue in dispute has already been considered in the hand of mother of the assessee, therefore, the addition in the hand of assessee is not justified. - Decided in favour of assessee.
|