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2018 (10) TMI 1405 - ITAT KOLKATAAssessment u/s 153A - undisclosed income as advances received - identity of the creditor was not proved and the addition was property made by the AO - Held that:- AO in his remand report has stated that he has verified all the documents and evidences furnished by the assessee in support of its claims. No adverse observations were made by the AO in the remand report. The claim of the assessee was accepted as correct. Under the circumstances, the ld. CIT(A) based on this remand report by the A.O, granted relief in this case. From the report it is also clear that the balance of advance existed at the end of the financial year was sufficient to acquire assets existing in the right side of the balance sheet in each case and in each assessment year. Keeping in view the categorical findings given by the AO after due verification of papers and details filed and after proper investigation and report by the inspector attached to the AO in the remand proceedings, the issue involved in this case has been adequately discussed and elaborated by the AO. - Decided in favour of assessee.
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