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2013 (1) TMI 718 - ITAT CHENNAIUnexplained cash credits - lack of evidence - Assessee contends that bank account belong to other person - Held that:- Assessees have not produced any piece of evidence before any of the lower authorities to show that the savings bank deposits made by them related to other parties. They did not produce any evidence even before this Tribunal. The only prayer of learned counsel for the assessees was that if the cases are remitted back to the Assessing Officer, the assessees can produce evidence and present their cases more effectively. But, even for remanding the cases back to the Assessing Officer, it is incumbent upon the assessees to show the existence of acceptable evidence in their hands. They have not shown anything to lead this Tribunal to come to the conclusion that the assessees are already having dependable evidence to prove their contentions placed before the lower authorities in the earlier proceedings. - All these aspects have been fully explained by the assessing authorities as well as by the Commissioners of Income-tax (Appeals). We do not find any reason to interfere in the orders passed by those authorities. - Decided against assessee.
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