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2018 (2) TMI 1367 - AT - Income TaxAddition u/s 41(1)- AO found that it was a trading liability and subsequently, the assessee changed his stand claiming it was a gift - Held that:- Assessing Officer has not examined all the documentary evidences filed by the assessee. In view of this factual aspect, this Tribunal is of the considered opinion that the matter needs to be re-examined by the Assessing Officer. Disallowance u/s 14A - Held that:- The assessee claims that the investment was made in the partnership firm in which he was also a partner. Copy of partnership deed is not available before this Tribunal. Therefore, this Tribunal is unable to find out whether the investment is for business purpose or for earning exempted income. Moreover, the assessee also claims that no exempted income was earned by him. This was also not considered by both the authorities below, thus the matter needs to be reconsidered by the Assessing Officer Appeal of assessee allowed for statistical purposes.
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