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2016 (10) TMI 1066 - AT - Income TaxUnexplained cash deposits - Held that:- The conduct of the assessee is full of lapses and latches; and lacks bona fides. The original return was deliberately filed with inaccurate particulars. When the AO confronted the AIR information, the assessee cooked up a story to cover-up the gaps and claiming that the deposits in the bank account were made out of earlier withdrawals. In such suspicious circumstances, the burden of explaining the entries of transactions, as contended, squarely lies on the assessee as all the relevant facts are within her knowledge. Since the assessee failed to discharge her burden in effective terms, the IT Authorities are justified in drawing suitable inference. - Decided against assessee.
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