2020 (11) TMI 46 - ITAT MUMBAI

Unexplained cash credit received from bogus entities - discharge of onus - HELD THAT:- As decided in ITO Vs Nextgen Construction Pvt. Ltd sister concern of the assessee [2020 (6) TMI 634 - ITAT MUMBAI] assessee has discharged the primary onus to demonstrate fulfilment of primary ingredients of Sec.68 and it was incumbent upon revenue to dislodge the assessee's claim by bringing on record, cogent material to establish that the assessee's unaccounted money was routed in its books of account in the garb of unsecured loans. However, we are unable to find any such material except for the fact that additions were made merely on suspicious, conjectures and surmises. Therefore, no infirmity could be found, in the impugned order, in this regard - Decided in favour of assessee.