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2022 (11) TMI 15 - AT - Income TaxAddition u/s 68 - unexplained cash credits - HELD THAT:- MOU was not doubted by the AO to the extent that the assessee received commission of 1% in the said sale and purchase of the land. In fact, the assessee has explained the details of the cash book deposited in the Kalupur Commercial Co-op Bank Ltd. Assessee has explained the amount through cash books which is in respect of agricultural produce sold on 21.08.2013 as well as earning the commission of 1% paid by the RSPL Ltd. Company therefore, the same was properly explained and cannot be termed as unexplained cash credits u/s 68 - CIT(A) as well as the AO was not right in making this addition as the assessee herein has explained the details before the authorities regarding the amount - Therefore, appeal of the assessee is allowed.
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