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2016 (10) TMI 1046 - ITAT JAIPURUnexplained cash found deposited in the bank accounts - Held that:- It is crystal clear that where the cash is found in possession of the assessee by virtue of deposits in her bank accounts maintained and operated by her, the onus is on the assessee to discharge the burden that cash doesn’t belong to her and belong to the marble traders. Further, the assessee has to adduce necessary evidence to substantiate her claim. Whether the assessee has discharged her onus in terms of explaining the nature and source of deposits and withdrawals in various bank accounts throughout the year? - Held that:- The matter requires a deeper and a coordinated examination by the authorities at the higher level to bring the correct facts on record which should conclusively establish that either the assessee is the owner of the money found deposited in her bank accounts as claimed by the AO or the assessee is merely a facilitator and earns commission income as claimed by the assessee. Accordingly, we set-aside the matter to the file of the ld CIT(A) to examine the matter afresh and the assessee shall provide all the requisite details in terms of names and address and other requisite particulars of the depositors as well as of the beneficiaries, the assessee has to explain the nature and source of the transactions in terms of deposits and establish the necessary linkage between the deposits and the subsequent withdrawals to various individual beneficiaries. The ld CIT(A) shall call for the records maintained by the Investigation Wing in respect of the survey proceedings and confront the same to the assessee to provide her a suitable opportunity.
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