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2020 (8) TMI 753 - AT - Income TaxAddition of unexplained bank deposits - protective addition on the ground that he has confirmed the substantive addition made in the hands of K. Mahesh Kumar - HELD THAT:- With regard to surrender of ₹ 4 crores made in the hands of the assessee, the letter dated 28.3.2011 written by Shri K. Mahesh Kumar makes it clear that the above said surrender was made, inter alia, to cover up shortcomings, if any till the assessment year 2011-12. We also notice that the surrender of ₹ 4 crores is less than the disallowance of ₹ 3.36 crores made by the A.O. and hence the said disallowance may be telescoped against the amount surrendered by the assessee. This is without prejudice to the quantum of disallowance made by the AO. In this view of the matter, we are of the view that there is no necessity to make separate disallowance of ₹ 3.36 crores out of the expenses. Accordingly, we set aside the order passed by Ld. CIT(A) on this issue and direct the A.O. to delete the disallowance. Appeal filed by the revenue relating to deletion of protective addition relating to unexplained bank deposits - We find merit in the said submissions of Ld. A.R. Since the Ld. CIT(A) has deleted the protective addition on the ground that he has confirmed the substantive addition made in the hands of K. Mahesh Kumar and since the said issue has been restored back to his file by the Tribunal in the case of K. Mahesh Kumar, the present issue also needs to be set aside to his file for examining it afresh along with the appeals of Shri K Mahesh Kumar. Accordingly, we restore this issue to file of Ld. CIT(A).
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