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2023 (2) TMI 701 - ITAT CHENNAIUnexplained cash deposits - search in the residential premises of the assessee cash was found and seized - during the course of assessment proceedings, the assessee has took a different stand and argued that his wife derives income from tuition fee and agricultural income and out of said source, she had given a sum gift - HELD THAT:- Assessee claims to have received gift from his wife, but he could not substantiate his claim with necessary evidence, except stating that she had withdrawn some amount from her bank account. CIT(A), after considering withdrawal from bank and subsequent deposits opined that assessee could able to explain source from his wife Smt. Hanspriya to the extent of Rs. 1 lakh only. Therefore, allowed relief to the assessee to that extent. In respect of amount received from his father Shri. Ramalingam, the assessee could not establish source for amount claimed to have been received from his father. Even before us, assessee could not file any evidence to justify source for cash found and seized during the course of search. We are of the considered view that there is no error in the reasons given by the ld. CIT(A) to sustain additions made towards cash found during the search and thus, we are inclined to uphold the findings of the Ld. CIT(A) and dismiss appeal filed by the assessee.
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