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2014 (12) TMI 342 - AT - Income TaxEnhancement of income – Treatment of opening balance appearing in cash book – Held that:- The claim of the assessee that as per the cash book for financial year 96-97 and 97-98, the assessee was having cash in hand of ₹ 14,16,946/- as on 31/03/98 is not acceptable because as per the income declared by the assessee in these years, the assessee cannot have such cash in hand and the assessee’s claim regarding receipt of advance to the extent of ₹ 6 lac in assessment year 1996-97 and ₹ 8 lacs in AY 1997-98 is not supported by any credible evidence. Moreover, no valid return was filed by the assessee for any of these years - the claim of the assessee regarding having opening cash in hand of ₹ 14,16,946/- is not supported by any credible evidence – assessee relied upon several cases which are held as distinguishable for various reasons - the assessee could not establish the availability of opening cash in hand as has been claimed by the assessee in the cash book and the order of the CIT(A) is upheld – Decided against assessee.
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