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2018 (3) TMI 1530 - HC - Income TaxAddition u/s 69 - unexplained source of investment - Held that:- In the present matters, the assessee are running their business. The nature of investment in the bank accounts has not been explained. On the contrary, inconsistent explanations were given, which were not found satisfactory by all the authorities. As the same was unexplained investments, the authorities were right in deeming the same to be the income of the assessee. Whether they had maintained the books of account was never an issue before the authorities below, as the same was never raised. It would not be permissible for the appellants to contend it for the first time in the present appeals, as these appeals can only be considered on the substantial questions of law. - Decided against assessee.
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