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2014 (5) TMI 703 - HC - Income TaxAddition made u/s 68 of the Act - Addition of donations collected and interest – Genuineness of transactions – Held that:- The Tribunal was rightly of the view that the onus is upon the assessee to establish the nature of entries in his books of account including the bank account, expenditure and sources of the same with evidence - The onus cast upon the assessee is not an empty formality but is to be discharged with evidence which can stand the test of judicial security - the assessee claims that it had received certain amount on behalf of another person who in turn is in charge of a Gurdwara and he was out of country, the amount remitted by the Sangat being in the form of foreign exchange, after encashment was deposited in his bank account, which latter was returned to the person by cheque - assessee has tried to explain the source of money deposited in his bank account, without evidence - Mere explanation is not sufficient to discharge the onus cast upon him under the Act - the assessee has not established the veracity of his explanation - the affidavit of a third person is mere self-serving evidence unless the same is backed by some other evidence justifying the nature of the transaction or the concerned party appears in person to verify its contents – thus, the order of the Tribunal is upheld and as such no substantial question of law arises for consideration - Decided against Assessee.
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