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2012 (5) TMI 2 - PUNJAB AND HARYANA HIGH COURTAddition u/s 68. Appellant submitted that the persons who had made statements had declared the jewellery under the VDIS scheme and the said statements were later on retracted in as much as it was stated by all of them that the earlier statements were recorded under coercion and duress. Held that: the benefit of VDIS scheme where various persons had declared the jewellery thereunder was not available which could have been taken by the appellant. There was huge cash deposit of Rs. 16.28 crores in a period of 1 month and 7 days from 13.2.1998 to 20.3.1998 in the bank account of the assessee for which heavy onus lay upon it to satisfactorily tender explanation along with supportive material to substantiate its plea which the assessee had failed to do. Even with regard to the retraction of statement, it may be noticed that the earlier statements of these persons were recorded in the year 2000 whereas they had sought to resile therefrom in the year 2003. Appeal is dismissed
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