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2017 (9) TMI 521 - AT - Income TaxAddition u/s 68 - burden of proof proving the identity, creditworthiness as well as the genuineness of the transactions of receipt of share capital - Held that:- First Appellate Authority, has granted opportunity to the assessee by calling for the remand report from the Assessing Officer. So, in our view ample opportunity was given to the assessee by the revenue authorities to prove its claim. The assessee has not attempted to file any additional evidence before this Bench of the ITAT. Under these circumstances, the question of remanding the matter to the file of the Assessing Officer for giving the assessee fresh opportunity does not arise. Hence this request is rejected. Addition u/s 68 of the Act on the ground that the assessee has not proved the genuineness of the transactions. - Decided against assessee.
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