| |
| The Tax Publishers2020 TaxPub(DT) 5017 (Del-Trib) INCOME TAX ACT, 1961
Section 69
Where assessee had filed confirmation from Reliance Mutual Fund to say that it had not made any investment and it was wrongly shown in AIR received by the department, no addition could be made on account of unexplained investment.
|
Income from undisclosed sources - Addition under section 69 - Unexplained investment - Assessee filed confirmation of no investment made
Assessee filed appeal against addition made on account of unexplained investment contending that two items of investment in Reliance Mutual Fund was wrongly shown in AIR received by the department and it can be an inadvertent mistake by the person providing information in AIR. Held: The assessee had filed the confirmation from Reliance Mutual Fund to say that it had not made any investment. This establishes that some mistake had crept in while providing information in AIR by the person and the confirmation issued by Reliance Mutual Fund confirms the same. Since, there was no investment, concerning the same no addition could be made.
REFERRED :
FAVOUR : In favour of assessee.
A.Y. : 2005-06
INCOME TAX ACT, 1961
Section 37(1)
 SUBSCRIBE FOR FULL CONTENT
|