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2014 (2) TMI 433 - HC - Income TaxDisallowance of Interest u/s 40(b) of the Act Interest paid to Partners Deletion made as unexplained cash credits Survey u/s 133A of the Act Held that:- The assessee has explained the source of the money in its hands and has, therefore, also explained the source of meeting the expenditure - The addition made by the Income-tax Officer, was, therefore, rightly deleted by the Commissioner of Income-tax (Appeals) - Dr. Gaur Hari Singhania has failed to establish that he has refunded the amount, the challenge to the finding is implicit - even if it is assumed that the question contains a challenge to the finding of the Tribunal, it is sufficient to say that the findings recorded by the Tribunal are based on the material and oral statement of Dr. Gaur Hari Singhania and this Court, while deciding the reference, shall not sit in appeal against the said findings Decided in favour of Assessee. Justification of admitting oral evidences Burden to prove - Whether the ITAT was justified in accepting the oral evidence of the assessee and submissions against the material evidence in the form of books of accounts Held that:- The burden of proof is not a fixed concept it keeps on shifting from stage to stage - The burden of assessee was discharged when the statement was recorded of the cashier and of Dr. Gaur Hari Singhania on the same day, when the survey was made, subsequently, oral statement was made by Dr. Gaur Hari Singhania, giving the date of refunding - The authority has to take decision on the basis of evidence on record - The Tribunal has returned the findings after considering the evidence on record Decided in favour of Assessee.
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