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2018 (8) TMI 1054 - AT - Income TaxAddition u/s 69 - undisclosed investment - cash paid for purchase of new car - proof of source of cash - Held that:- it appears that the small withdrawals made by the assessee were considered by the AO towards household expenses - considering the totality of facts, I am of the view that when the assessee and his wife had withdrew a sum of ₹ 7.72 lacs from the various banks account from 1.4.2013 to 3.11.2013. The said withdrawal was sufficient to explain a payment of ₹ 2.68 lacs for the purchase of the car, particularly when it is not brought on record that the said amount was used elsewhere. - Additions deleted - Decided in favor of assessee.
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