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2013 (12) TMI 123 - AT - Income TaxCash deposit in bank account - Held that:- The assessee failed to produce the books of account nor give any explanation vis-a-vis the source of cash deposits in the bank account. In the absence of any explanation or any evidence being produced by the assessee, The onus cast upon the assessee was not discharged - The assessee failed to give the list of such persons who had advanced the said cash to the assessee - The assessee even failed to bring on record any evidence to prove its stand that it was the amount received from such persons who were his clients - The assessee failed to file any confirmation in respect of the said cash credits nor any of the persons were produced for examination before the Assessing Officer, though specific direction in this regard was given by the Assessing Officer within the course of recording of statement of the assessee, during assessment proceedings - Decided against assessee.
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