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2017 (3) TMI 960 - AT - Income TaxUnexplained cash deposits - Held that:- In view of gross and unsupported peculiar explanation of cash deposits arising due to non-payment towards purchases while purported cash received against the sales made over a period have been deposited in bank, we find that the assessee has failed to discharge any onus which cast upon it for which the Assessing Officer cannot be faulted. We also find that the assessee has wrongly attempted to shift the onus on the Assessing Officer for cross-examination. Similarly, we also note that the assessment order in the present case has been passed at the fag end of the limitation period after giving sufficient opportunity to the assessee and therefore, the claim of the assessee that no reasonable time was granted is devoid of merit. Resultantly, we do not find any merit whatsoever in the explanation offered by the assessee towards cash deposits. - Decided against assessee.
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