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2017 (6) TMI 559 - AT - Income TaxAddition on account of cash deposited in bank - mismatch between the amounts of gross receipt shown by assessee vis-a-vis total deposits made by assessee during the year - Held that:- Admittedly, the assessee has filed his return of income declaring total gross receipt of ₹20,45,960/- u/s. 44AF of the Act. This fact has not been disputed by Authorities Below. Once the turnover has been accepted then no further addition can be made on account of money deposited in the bank account of assessee. Once the turnover has been accepted then no further addition can be made on account of money deposited in the bank account of assessee. On perusal of bank account we find that there are regular deposits and withdrawn of money. Even assuming that all the deposits are income of assessee then the benefit of withdrawal should be given by the Authorities Below. AO cannot on one hand take all the deposits as income of the assessee without giving the benefit of withdrawal. The turnover shown by assessee is exceeding the total amount of deposit made in his bank account. - Decided in favour of assessee.
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