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2018 (7) TMI 1410 - AT - Income TaxUnexplained cash credit - Appellant received gift of ₹ 17,00,000/- from relatives and ₹ 1,50,400/- borrowings from relative and friends - Held that:- We are just fail to understand how this much of land can produce such a huge crop. It is a matter of research for the Agriculture Scientist as well. This statement cannot be relied upon and in support of its contention he has not produced any certificate from the agriculture department and when he was specifically asked whether he has maintaining any record then in reply he stated that he does not have any documentary evidence and moreover he has not maintaining any account of agriculture produce and bank account. He further stated that he does not have any gift deed when he gifted the amount to the relatives. So in our considered opinion, appellant has been failed to prove his case as he has not maintaining any bank account nor his relatives and friends are maintaining any bank account either they are labourers or farmers. Therefore, there credit worthiness is in doubt. - Decided against assessee.
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