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Income Tax Appellate Tribunal, KOLKATA ‘SMC’ BENCH, KOLKATA
Before: Shri J. Sudhakar Reddy, Hon’ble]
order : February 26th, 2020 O R D E R Per J. Sudhakar Reddy, AM :- This appeal filed by the assessee is directed against the order of the Learned Commissioner of Income Tax (Appeals) – 10, Kolkata, (hereinafter the “ld.CIT(A)”), passed u/s. 250 of the Income Tax Act, 1961 (the ‘Act’), dt. 02/07/2019, for the Assessment Year 2010-11.
After hearing rival contentions, we find that the disputes are only with regard to two receipts. The assessee is an individual and receives commission and interest. The addition made pertain to:- a) An amount of Rs.2,00,000/- received by the assessee from his father and b) An amount of Rs.90,000/- received from his mother.
The assessee has filed copies of the bank statement of his late father (since deceased), in support of the sources. Similarly, as far as the loan received from his mother is concerned, the assessee has produced copies of her bank statements. A perusal of these bank statements demonstrate that there was sufficient sources of funds with the parents of the assessee to make advance to the assessee. Thus, I delete the addition and allow this appeal of the assessee.
In the result, appeal of the assessee is allowed.
Kolkata, the 26th day of February, 2020.
Sd/- [J. Sudhakar Reddy] Accountant Member Dated : 26.02.2020 {SC SPS}
Assessment Year: 2010-11 Sri Siddhartha Bandopadhyay Copy of the order forwarded to: opy of the order forwarded to:
1. 1. Sri Siddhartha Bandopadhyay Sri Siddhartha Bandopadhyay Amrapali Castle Block-B, Flat-3C 3/1, Bediadanga First Lane Kolkata – 700 039 2. Income Tax Officer, Ward-29(3), Kolkata 29(3), Kolkata 3. CIT(A)- 4. CIT- , 5. CIT(DR), Kolkata Benches, Kolkata.
5. CIT(DR), Kolkata Benches, Kolkata.