AO can make addition if the cash credit is fully explained
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
This appeal by the Revenue is directed against the order of the Ld. Commissioner of Income Tax (Appeals) dated 28.10.2009 pertaining to assessment year 2005-06.
The grounds raised read as under:-
“(i) In the facts and the circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) has erred in deleting the addition of Rs. 11,40,000/- made by the Assessing Officer on account of difference in value of sale proceeds of plots.
(ii) In the facts and the circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) has erred in deleting the addition of Rs. 4,30,000/- made by the Assessing Officer on account of unexplained cash credits.
(iii) The appellate craves leave for reserving the right to amend, modify, alter, add or forego any time before or during the hearing of this appeal.”
Citation :
ITO, Ward 29(2),Room No. 112, Drum Shaped Building, IP Estate, New Delhi(Appellant )vs. Sh. Ashok Kumar Kesarwani,409, Katra Maidgran, Khari Baoli,Delhi – 110 006 (PAN/GIR NO. AATPK2759G) (Respondent )
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CS Bijoy
Published in Income Tax
Views : 1616
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