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2015 (8) TMI 615 - HC - Income TaxCash credit amount assessed under section 68 - whether forms part of the total income cannot be considered as application of income for the purpose of section 11 for the assessment year 2009-10 because the same is not a donation ? - Held that:- Quite apart from the fact that the issue raised is a pure question of fact, we find from the order of the Commissioner of Income-tax (Appeals) as well as the Assessing Officer that the assessee had not in any manner let in any evidence to show that the amount of ₹ 1 crore received from M/s. India Cements was repaid by further availing of loan from various parties. It is no doubt true that the person who had taken the said loan, expired during the course of the assessment proceedings. Consequently, the names could not be furnished. Nevertheless it is a matter of record that the assessee had not produced any material by way of any resolution passed to avail of such loan to discharge the liability. Thus, in the absence of any material furnished by the assessee, the only other course available to the Assessing Officer was to consider this income as income from other sources. We do not find that the reasoning is faulty or illogical for this court to interfere with the order of the Income-tax Appellate Tribunal.- Decided against assessee.
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