2023 (10) TMI 1194 - AT - Income Tax

Unexplained money u/s 69A - Addition as per the provisions of section 115BBE - CIT(A) giving relief to the extent of 50% of claimed sources from Agricultural income of the father and sustaining the balance addition - HELD THAT - As observed that the assessee could not produce any documentary evidence in support of his claim, except the confirmation letters together with pattadar pass books of his father and wife, either before the CIT(A) or before the Tribunal. CIT(A) is justified in granting part relief to the assessee. Hence, find no infirmity in the order passed by the CIT(A) and accordingly dismiss the grounds raised by the assessee.

Summary

Issues involved:
The appeal against the order of Commissioner of Income Tax (Appeal) [CIT(A)]-12, Hyderabad regarding the addition of unexplained money u/s 69A of the Income Tax Act, 1961.

Details of the Judgment:

Issue 1: Addition of unexplained money u/s 69A

- The assessee filed the appeal against the order of the Assessing Officer (AO) who treated the cash amount of Rs. 3,00,000/- as unexplained money u/s 69A of the Act.
- The CIT(A) partly allowed the appeal by considering Rs. 1,00,000/- as explained sourced from agricultural income of the assessee's wife and father.
- The Tribunal observed that the assessee failed to provide supporting evidence for the claimed sources of cash.
- The Tribunal upheld the CIT(A)'s decision to grant partial relief to the assessee based on the agricultural income of the father and wife.
- The Tribunal concluded that the CIT(A) was justified in granting part relief to the assessee due to the lack of documentary evidence supporting the claim.
- The appeal of the assessee was dismissed by the Tribunal.