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2017 (8) TMI 333 - AT - Income TaxAddition u/s 68 - Held that:- Neither the Assessing Officer nor the CIT (Appeals) have examined the cash book stated to be maintained by the assessee on day to day basis along with regular books of account. If the cash withdrawals from bank account or cash received from two aforesaid concerns are tallied with the deposits made in the bank account on the various dates, then the same stands explained. But this matter needs proper examination by the Assessing Officer. The entire matter of cash deposits should go back to the file of the Assessing Officer who shall verify and examine the total availability of cash from various sources as stated by the assessee and to see whether these cash are recorded in the regular books of account on day to day basis in the cash book and also whether the cash as reflected in the cash book have been deposited in the bank account of the assessee. Grounds raised by the assessee allowed for statistical purposes.
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