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2010 (12) TMI 732 - HC - Income TaxAddition - Cash credit - Unexplained income - Since, the creditor had admitted to have advanced the money to the assessee, the source of money deposited in the bank account out of which the money was advanced to the assessee was not explained - The mere statement that a sum of Rs.40,000/- was saved out of house-hold expenses is bereft of substance - The creditor does not have any source of income and therefore, accumulation of Rs.40,000/- cash, advanced to the assessee, routed through bank account is not satisfactorily explained - Mere payment by cheque is not enough to discharge the onus - Therefore, confirm the addition of Rs.40,000/- Decided against of assessee.
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