Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2006 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2006 (10) TMI 97 - PUNJAB AND HARYANA HIGH COURTGenuineness of the credit was doubted AO - considering the explanations furnished by assessee, AO vide its order of assessment held cash credits, to be not genuine and accordingly made additions - Merely because in some case the amount was also shown to have been returned does not prove that the transaction in question was genuine or bonafide - No explanation furnished as to why impugned persons have advanced amount to assessee without any interest – addition were justified
|