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2016 (12) TMI 295 - ITAT PUNEAddition u/s.69 - unexplained deposits in loan a/c of Bank - Held that:- It is an undisputed fact that it has been assessee’s consistent stand before the lower authorities that the source of cash deposits in the loan account were the repayment of loans by the husband of the assessee to the assessee when he was alive and her husband was looking after all the transactions. It is also an undisputed fact that the Assessee lost her husband in car accident in 2004. Though it is a fact that Assessee has not been able to demonstrate her contentions with any tangible evidence but at the same time it is also a fact, that there is nothing on record placed by the Revenue to prove that the submissions made by the Assessee are wrong or incorrect. As it is seen that Ld CIT(A) has also confirmed the addition on the basis of presumption like as to why the assessee kept the cash with her for long and did not deposit the sum in her loan account immediately to liquidate the loan. Before us, Assessee in person has submitted that due to the death of her husband and domestic issues at her end, she could not furnish the required details. The aforesaid contentions of the Assessee have not been controverted by the Revenue. Before us, Assessee has also placed on record the copy of the bank statements which also supports her contention of financial crisis. Considering the totality of the aforesaid facts and in the peculiar facts of the case, we are of the view that in the absence of any material on record to demonstrate that the contentions of the assessee are wrong, no addition is called for in the present case. We therefore direct its deletion. - Decided in favour of assessee
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