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2010 (11) TMI 771 - HC - Income TaxCash credits - Addition on the ground of lack of explanation for the source funds - assessee received loans from eight persons - Held that:- Tribunal on appreciation of evidence had concluded that the cash credits amounting to Rs. 65,000 in the names of Smt. Shanti Diwan ; Smt.Renu Diwan and Yogesh Kumar were not proved to be genuine, whereas Rs. 30,000 which was an income from commission received by Yogesh Kumar and converted into loan account, stood proved and could not be added under section 68 of the Act. Learned counsel for the appellant has not been able to show any perversity or error of law in the findings recorded by the Tribunal so as to persuade this court to interfere therewith - no merit in the appeal and the same is dismissed
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