Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (7) TMI 36 - AT - Income TaxUnexplained cash credit - validity of issuance of notice under section 148 – AO issued notice u/s 148 on the basis of information received from investigation wing – addition on the ground of unaccounted money in the garb of bogus entry of Capital Gain/Gift is without any evidence – Held that:- for any return processed under section 143(1)(a), only one condition is required to be satisfied that the Assessing Officer must have reason to believe that income chargeable to Income tax has escaped the assessment. Notice issued by the Assessing Officer under section 148 of the Act is a valid notice as per the provisions of sections 147 & 148 of the Act. Unexplained cash credit – credit worthiness of donor – Held that:- documentary evidences filed by the assessee were not certified by concerned authority or by the author of the document and, therefore, these documentary evidences are not admissible as per sections 62 & 63 of the Evidence Act, 1872. Assessee failed to discharge the onus to establish the genuineness of the gift shown by her in the Income tax return. Assessee has failed to establish her relationship with so-called donor Shri Govind Ram and also failed to establish the occasion for receiving such gift as per the evidences produced by the assessee. In favor of Revenue.
|