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2011 (11) TMI 654 - HC - Income TaxUnexplained under Section 68 - Held that:- We feel that the submission is absolutely untenable as the assessee cannot be asked to show credit worthiness of his creditors and the Assessing Officer of that creditor can add the said amount to the income of that creditor if he is not satisfied by the explanation given and it is not possible for the assessee to prove the sources of the creditors. It has also been recorded as a matter of fact that the amounts have been received by way of banking channel and, therefore, it was for the Assessing Officers of the said creditors to question the said creditors, who were income tax assesses and in the absence of any evidence, the Assessing Officer could not have treated the said amount as belonging to the assessee from his undisclosed sources. No question of law
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