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2015 (4) TMI 1277 - AT - Income TaxUnexplained cash deposit in the bank u/s 68 - burden to prove - HELD THAT:- Primary burden to prove the cash deposited in the bank account is on the assessee, which has not been discharged fully. She has allowed time to produce the purchaser to explain the transactions whether they have paid the amount to the assessee or not with evidence. Hence sufficient time has been provided by the AO at the time of remand report even the assessee could not produce the purchaser to verify the transaction. The case laws relied upon by the Assessing Officer are squarely applicable on the assessee. The case law referred by the ld. AR is on Section 69 of the Act i.e. unexplained investment - we set aside the order of the CIT(A) to the Assessing Officer to give one more chance to the assessee to explain the source of cash deposited as the burden lies on her. Accordingly, we set aside the order of the CIT(A) to the ld Assessing Officer. Assessee’s appeal is allowed for statistical purposes only.
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