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2013 (8) TMI 79 - GUJARAT HIGH COURTAddition u/s 68 - Credits received from donors - credit worthiness - Tribunal held that source of income of donors not disclosed therefore upheld addition - Held that:- assessee, when once discharges initial burden of proving the source, he is not required to prove the source of the source - The factor that the donors did not possess independent source to make such deposits must be viewed in light of the findings that the assessee had no justification for borrowing such amounts at such high rate of interest. These aspects would have a bearing on the genuineness of the transaction and the credit worthiness of the donors and cannot be seen as an attempt to throw the burden to prove source of the source on the assessee - substantial amount of cash was deposited in the bank accounts of all the creditors shortly prior to issuance of cheques and insufficiency of the fund with the creditors when could be duly established from the overall facts and circumstances of the case and when it is further found as a matter of fact that the assessee had no justification for borrowing such amounts at high rate of interest, even without disturbing the well established principle of not insisting on the assessee proving source of the source, on the robust facts of the revenue authorities have rightly not concluded in favour of the assessee - Decided against Assessee.
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