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2018 (11) TMI 391 - AT - Income TaxValidity of assessment u/s 153C - addition of unexplained rental income received - Held that:- CIT(A) was not justified to hold impounded documents belong to the assessee. Sh. Ravinder Singh did not confirm if the tenant company has paid cash of ₹ 33 lakhs to the assessee as rent security or advance rent. The AO, even as per the impounded document mentioned in the assessment order that the impounded document shows ₹ 33 lakhs rent security received in cash during the year but the AO did not affirm that the alleged amount of ₹ 33 lakhs in cash have been received by the assessee. Even the tenant has not confirmed to have paid any cash of ₹ 33 lakhs to the assessee. Therefore, no credence could be given to the seized/impounded paper because it did not contain any specific thing against the assessee. The seized document is not reliable as it was not supported by Sh. Ravinder Singh in his statement, if any, cash of ₹ 33 lakhs have been paid to the assessee. Thus, there is no basis or material available on record to justify the addition of ₹ 33 lakhs in the hands of the assessee. The authorities below thus, were unjustified in making addition of ₹ 33 lakhs in the hands of the assessee as unexplained rental income received for the above property. We, accordingly, set aside the orders of the authorities below and delete the entire addition. - Decided in favour of assessee
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