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2017 (2) TMI 1093 - ITAT MUMBAIUnaccounted cash for the purchase of property - notings in the loose paper relied upon - Held that:- CIT(A) has rightly concluded that on the examination of the copy of seized documents as provided together with the facts of the case and also considering the glaring mis-matches, there was an absence of independent, reliable, corroborative evidence and therefore it was rightly held by Ld. CIT(A) that the said document, in any manner cannot be held as genuine and reliable to hold that the assessee has paid unaccounted cash for the purchase of property. We are also of the considered view that in the absence of any other corroborative evidence to establish a direct nexus, it cannot be said that the notings in the loose paper are genuine and hence by virtue of said document, the AO could not have hold that undisclosed cash payment of ₹ 1,60,90,191/- has been made by the assessee with his wife. Moreover the Coordinate Bench of ITAT has already adjudicated this issue. No new circumstances or arguments have been brought on record before us by the learned DR in order to controvert or rebut the findings recorded by the learned CIT (A). Moreover, there are no reason for us to deviate from the findings recorded by the learned CIT (A). - Decided against revenue.
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