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2019 (10) TMI 1209 - AT - Income TaxAddition as unexplained credit - HELD THAT:- Substantial amount has been explained by the assessee in the given situation and the Revenue has made addition with respect to small amount for which also, details were furnished by the assessee. DR could not controvert these facts. There is no doubt that the bona-fide intent of the assessee and genuineness of the transactions have been established by the assessee because all the transactions made by the assessee were through banking channels and evidences has also been submitted before the Revenue Authorities. In view of the matter, we set aside the order of the Ld. CIT(Appeals) and direct the Assessing Officer to delete the addition from the hands of the assessee. Income from undisclosed sources taking recourse to the provisions of Section 68/69 - Disallowance was made since there was some discrepancy regarding PAN - HELD THAT:- As per the remand report, correct PAN of the assessee is available with the file. This fact is not controverted by the Ld. DR nor any evidences were brought on record to show that the transactions done by the assessee were not genuine. In view of the contents of the remand report and the undisputed fact that correct PAN of the assessee is mentioned therein, the addition made in this count does not have legs to stand. Accordingly, we set aside the order of the Ld. CIT(Appeals) and direct the Assessing Officer to delete the addition
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