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2022 (9) TMI 790 - AT - Income TaxUnexplained cash deposits - non explanation to source of cash deposit with supporting evidences - assessee explanation to re-deposit done after five months is too farfetching - HELD THAT:- Addition which are claimed by the assessee are nothing but re-deposits in the bank account which was not verified by the Ld. AO. Further the claim of the assessee that the deposit made by respective other persons have suffered tax in their hands and again bringing to tax in the hands of the assessee will amount to double taxation, which is not permissible under law. To meet the ends of justice, we deem fit that the case be remitted to the file of the AO to verify the same by providing an opportunity to the assessee to explain its case and then complete the assessment in accordance with law. The assessee is directed to cooperate with the AO by producing all the necessary evidences before him. Thus, the grounds raised by the assessee is partly allowed.
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