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2021 (1) TMI 122 - AT - Income TaxNon production of books of accounts - disallowance of expenses - estimate the income from business of the appellant by rejecting the financial statements - HELD THAT:- Assessee was asked to produce the books of accounts and proof for the expenses claimed but in spite of this, the assessee has neither produced the books of accounts nor produced the proof for expenses claimed. A categorical finding is given by learned CIT(A) that as per the Assessment Order, the assessee failed to produce the books of accounts despite several opportunities provided by the AO. Before the Tribunal also, this is not the claim of the assessee that even if the matter is restored back to the file of AO, the assessee can produce the books of accounts and the proof for the expenses claimed. Under these facts, we find no reason to interfere in the order of learned CIT(A) and AO on this issue and accordingly, ground Nos.2.1 to 2.4 raised before the Tribunal are rejected. Unexplained cash deposit in the Bank account of the assessee - HELD THAT:- As per the summary of cash deposit in these bank accounts, we are satisfied that the total cash deposits in the bank account of the assessee is explained and under these facts, on factual aspect also, we find that this addition is not justified.
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