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Pr. Commissioner Of Income Tax Gandhinagar Versus Pareshbhai B Patel

2016 (6) TMI 697 - GUJARAT HIGH COURT

Addition on account of interest income on alleged advances treating the same as accrued interest -ITAT deleted the addition - Held that:- The entire issue is based on appreciation of evidence on record. On the basis of the available material, the Tri .....

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TAX APPEAL NO. 392 of 2016 - Dated:- 7-6-2016 - MR. AKIL KURESHI & MR. A.J. SHASTRI JJ. For the Appellant: Mr. Sudhir M Mehta, Advocate ORAL ORDER (PER : MR. AKIL KURESHI) The Revenue has filed this Ap .....

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t of interest income on alleged advances treating the same as accrued interest ? 2. We have perused the material on record with the assistance of the learned counsel for the Revenue. Issue pertains to charging of interest of alleged advanc .....

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ings and there was no other evidence to hold that the assessee had earned any interest. Ultimately, the issue reached the Tribunal. The Tribunal by the impugned judgment deleted the interest addition making following observations: 42. A pe .....

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e no.29 to 63 of the paper book. The search team has nowhere confronted the assessee specifically with these two pages. A vague question under question no.28 has been asked. The question is Today during the course of search proceedings fro .....

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ing seen the aforesaid file in detail, I want to state that all the papers are in respect of the business of purchase/sale of land for which at present not able to explain because my evidence books are lying with my advocate/accountant and my mental .....

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s of the assessee and he was under an obligation to explain entries in the paper book. But according to the assessee, this paper is neither in his hand writing nor in the hand writing of any family members. This aspect is pleaded time and again befor .....

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person who would have visited him for resolution of some dispute. This possibility cannot be ruled out, the AO at least ought to have proved that it is in the hand-writing of the assessee or of any family member. In the absence of corroborative evide .....

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