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2019 (9) TMI 1263 - AT - Income TaxAddition u/s 68 - income from unexplained sources - HELD THAT:- The assessee failed to explain nature and source of cash deposit in his Bank Account before the authorities below. The assessee for the first time contended before the CIT(A) that he is running a general store shop and cash has been deposited out of the sales made. The explanation of assessee is not supported any documentary evidences. When assessee made purchases out of the same Bank Account as per the contention of Learned Counsel for the Assessee through Banking channel, assessee could have produce purchase bills before the authorities below to show that it was in fact the business transaction of assessee. Assessee did not produce any evidence before the authorities below. Same is the position before the Tribunal that assessee did not produce any purchase bills to show that purchases were made through banking channel out of the same Bank account in which cash have been deposited. Therefore, there were no justification even to remand the matter back to the file of A.O. as is argued by the Learned Counsel for the Assessee. - Decided against assessee.
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