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2020 (2) TMI 487 - AT - Income TaxAddition u/s 68 - unexplained cash credit - creditor did not appear before the authorities below inspite of notice under Section 133(6) - HELD THAT:- Additions cannot be made in the hands of the assessee, particularly when the assessee has extended all co-operation to the Revenue by providing the required documents as asked for time to time even before the appellate authority by way of additional evidence in order to justify the genuineness of the transactions. Merely because the creditor namely Smt. Kalpanaben Thakkar did not appear before the authorities below inspite of notice under Section 133(6) being sent, raising doubts on the genuineness of the loan is not warranted. With these observations, respectfully relying upon the judgments as discussed above, we are of the considered view that the addition made by the Learned Assessing Officer, confirmed by the First Appellate Authority, is not permissible in the eye of law. Hence, we delete the addition. - Decided in favour of assessee
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