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2018 (3) TMI 522 - AT - Income TaxUnexplained cash credits u/s 68 - Held that:- CIT(A) has observed that the bank account clearly indicates the possibility of cash withdrawals forming part of source for subsequent cash credits and no other evidence was shown by the revenue demonstrating that the cash withdrawals are used for any other purpose either for personal or business credits. Therefore, we do not find any infirmity in the order of the Ld.CIT(A) and the same is upheld. Appeal of the revenue is dismissed on this ground. Staff Salaries and Bonus and accounting charges disallowed - Held that:- DR did not bring any tangaible material to substantiate the disallowance of salaries at 30% and disallowance of entire expenditure in respect of staff bonus and accounting charges. No other material was placed on record before us to controvert the finding of Ld.CIT(A). Therefore, we do not find any reason to interfere with the order of the Ld.CIT(A) and accordingly ground of revenue’s appeal are dismissed.
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