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2022 (2) TMI 571 - AT - Income TaxUnexplained bank deposits - Seeking full relief as the CIT(A) has allowed only partial relief to the assessee is that the money was received through banking channels - HELD THAT:- While allowing relief to the assessee the learned CIT(A) did not consider the findings of the AO and allowed substantial relief of ₹ 10 lac just by holding that the assessee had received the payments through banking channels. None of the findings of the Assessing Officer have been negated by CIT(A) nor before us the counsel has filed any evidence in the form of paper book regarding the genuineness of receipt of agriculture income and other documentary evidence to justify agricultural income. Therefore, no justification in the appeal of the assessee on this issue. Accordingly, the addition sustained by CIT(A) is upheld and on this ground, the appeal of the assessee is dismissed. Unexplained cash deposit in the bank account - AO had noted in his order that such deposits were made in the bank account during the demonetization period. Still out of the total deposits, the Assessing Officer made addition of ₹ 2,04,000/- only and the learned CIT(A) restricted the addition to ₹ 50,000/- only. I find that before learned CIT(A), it was submitted that there was cash in hand available as on 08/11/2016 amounting to ₹ 38,44,795/- out of which the assessee had made total deposits to the tune of ₹ 38,06,500/- which is less than the opening cash in hand and therefore, restricting the addition to ₹ 50,000/- is not justified and hence it is deleted. In view of the above, the second grievance is decided in favour of the assessee.
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