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2014 (11) TMI 560 - HC - Income TaxUnexplained cash credits u/s 68 – Onus discharged by assessee - Facts properly appreciated or not - Held that:- The Tribunal rightly observed that if the AO has failed to notice the credits in the preceding year, perhaps because the assessment was made u/s 143(1) that does not preclude the Officer from scrutinising the accounts in the subsequent AY - the addition had been made by the AO on the basis of the credits appearing in the books of accounts of the assessee - no credence can be given to the statement filed before the revenue authorities regarding payments having been made to the labourers during the year under appeal relating to the earlier’s outstandings - only peak entry of the payment made to the labourers till the last date of accounting year is made and actual dates of payments are not known. Relying upon Murlidhar Lahorimal Versus Commissioner of Income-Tax [2005 (11) TMI 32 - GUJARAT High Court] - The primary onus which rested with the assessee stood discharged - if the revenue was not satisfied with the source of the funds in the hands of the donor, it was upto the revenue to take appropriate action - the assessee produces relevant documents as evidence to establish genuineness of the credits, much needed relief is required to be given to the assessee - the Tribunal has observed that only one labourer was produced before the AO and the Tribunal discharged the onus on the assessee so far as this labourer was concerned - since no other labourer was produced before the officer, the credits for those entries could not be given – the order of the Tribunal is upheld – Decided against assessee.
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