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2011 (5) TMI 229 - HC - Income TaxUnexplained cash credit - Summon under section 131 - standing credited in the name of Banwarilal Khetan in the regular books of account - The transaction for which the finding has been recorded by the authorities below is based on the evidence available on record as stated by non else than the witness suggested by the assessee himself and the said witness was called and it was found that his statement in his proof of the entry made in the books of account of the assessee and therefore the creditworthiness and the credibility of the witness was in doubt - Held that the Revenue has rightly held that a sum of ₹ 1,33,000, standing credited in the name of Banwarilal Khetan in the regular books of account can be credited in the total income of the appellant as unexplained cash credit under section 68 of the Income-tax Act, 1961 - Appeal is dismissed
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