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2015 (9) TMI 1490 - HC - Income TaxUnexplained cash credits under Section 68 - Held that:- There is no dispute to the fact that the assessee had not submitted any explanation in case of the cash creditors, namely Shri Jatinderpal Singh, Jasbir Singh, Smt.Ritu and Shri Parshotam Lal respectively before any of the authorities below that the said amounts have actually been invested by such cash creditors. The assessee has not brought on record before any of the authorities below or in the paper book before us that the said amount of ₹ 50,00,000/- surrendered includes ₹ 7,00,000/- in case of Shri Jasbir Singh. In any case, in the absence of any explanation with regard to cash credits mentioned in these grounds the assessee appeal is dismissed. - Decided against assessee
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