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2017 (2) TMI 176 - ITAT MUMBAIUnexplained cash deposits u/s 68 - Held that:- It is noted that Ld. CIT(A) has brought out various contradictions, gaps and loopholes in the confirmation and other evidences filed by the assessee to establish the source of cash received from the aforesaid persons. It was submitted by the Ld. DR that it is a clear case whether the assessee has introduced, its unaccounted income in the form of cash deposits into bank account. In absence of anything brought before us to negate the factual findings and analysis made by Ld. CIT(A), we do not find any reason to make any interference in the order of Ld. CIT(A). The findings recorded by the Ld. CIT(A) are based upon the proper analysis and detailed reasoning and no perversity could be noted by us in the order of the Ld. CIT(A). Under these circumstances, we uphold the order passed by the Ld. CIT(A) and dismiss the grounds raised by the assessee. - Decided against assessee.
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