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2021 (10) TMI 263 - AT - Income TaxUndisclosed income of the assessee - Addition u/s 68 - HELD THAT:- No further enquiry was made by the Ld. AO and he merely interpreted that the amount received by assessee is her undisclosed income routed through Shri Manoj Kumar Jain. Fail to find any merit in this finding because before us bank account of the assessee is not placed nor the ld. AO had made any enquiry to examine that whether the alleged sum was credited in the bank account of the assessee, which is a primary condition to make addition u/s 68. Secondly, cash was deposited in the account of Mukesh Kumar Jain, so substantive addition ought to have been made in his hand if sufficient explanation was not offered and if needed protective addition could have been made in the hands of assessee. Thirdly, Mr. Manoj Kumar Jain said to have received some amount credited in the bank account from sale of land, thereafter no efforts seems to have been made by the revenue authorities as appearing from records, to check the correctness of this statement. As per actual matrix of the case and loose ends of the enquiry conducted by the revenue authorities, assessee deserve to succeed as there is no direct material found by the revenue authorities against her to make the addition for undisclosed income - Decided in favour of assessee.
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