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2017 (10) TMI 1402 - HC - Income TaxAddition u/s 68 - Held that:- Assessee has made no case to prove the genuineness of the transactions, which are un-evidenced and de hors the probabilities of human conduct. Further, the question of Revenue doubting the source of the source does not arise, with the creditors, even though called for, having not been produced. The cited decision, if at all, validates the Revenue’s case; the hon'ble court upholding the addition u/s. 68 despite the production of affidavit from the creditor, under circumstances of non-production of the creditor coupled with non-furnishing of his correct address. An opportunity to the Revenue to examine the assessee or the creditor vis-a-vis the explanation and the materials furnished is again a sine qua non for any reliance to be placed thereon. - decided against assessee.
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