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2018 (11) TMI 471 - AT - Income TaxAcceptance of book result - unexplained cash deposits - Held that:- A.O. in his remand report, acknowledged, that all details regarding cash deposits has been produced along with complete books of accounts and other supporting details. A.O. in remand proceedings, was satisfied of assessee having maintained its books of account, which has been examined by Ld. AO. Thus it is on these premises that Ld. CIT (A) held that section-145 (3) could not have been invoked. We are in agreement with the findings of Ld.CIT(A). On perusal of remand report admittedly Ld.A.O. is accepting the books of accounts filed by assessee. It is also been submitted that all details regarding the amounts have been verified and is also reflected. Thus we do not find any reason to deviate from observations of Ld. CIT (A). - decided against revenue. Addition of cash credits made in hands of assessee - Held that:- CIT(A) categorically observed that A.O. verified additional evidences filed by assessee and has gone through complete books of accounts and other relevant supporting details on this issue. It has also been recorded by Ld. AO in remand report, that these details reveals that assessee has received amount from some parties in cash, and which is reflected in books of accounts. He thus does not question/doubt genuineness of the deposits as it has been considered to be in the due course of discharging his obligations in carrying out business. Under such circumstances we do not find it appropriate to uphold addition made by Ld. AO. Ld.A.O. in turn is accepting the details filed by assessee and therefore we uphold the decision of Ld. CIT (A).- decided against revenue.
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