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2012 (7) TMI 516 - AT - Income TaxSearch - Unexplained cash – seizure of cash – prayer for adjustment of seized cash towards demands – Held that:- Assessee failed to explain and justify as to how this cash pertains to the earlier years - assessee is trying to explain this amount belonging to the earlier years then definitely in view of the wealth-tax provisions, the assessee was liable to file the wealth-tax return for those years - assessee has not filed any evidence which could show that assessee has shown the amount in the wealth-tax return - CIT (A) was justified in upholding the addition up to Rs.16,16,881/- as unexplained cash for the year in which the search took place - appeals filed by the assessee stand dismissed.
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