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2020 (9) TMI 150 - AT - Income TaxAddition u/s 68 - assessee could not discharge the onus cast upon him to prove the genuineness of the transactions, identity of the creditors and also creditworthiness of the loan creditors - HELD THAT:- In the original assessment proceedings also, the assessee could not substantiate the identity, creditworthiness and genuineness of the transactions. As observed from the loan confirmations that the assessee has not provided complete address so that the revenue officers can make correspondence with the loan creditors. The address provided is incomplete like house no. street, area etc. has not been given creditworthiness of the loan creditors and genuineness of the transactions was also not proved and the entire loan was received in cash below ₹ 20,000/- by the assessee. Even the PAN number is also not provided in many cases. Merely submission of confirmations from loan creditors is not sufficient, it is also noticed that it is incomplete also as observed above. - Decided against assessee.
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