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2022 (1) TMI 729 - AT - Income TaxUnexplained Cash deposited into Bank Accounts - income from unexplained source u/s 69B - Onus to prove - assessee had made an application for admission of additional evidences - HELD THAT:- The assessee could not substantiate its claim by filing material evidences - CIT(A) has rightly rejected the application as the same did not meet the requirement of law. As per Rule 46A of the Income Tax Rules, 1962, the assessee is required to demonstrate the cause of non-submission of evidences that is sought to be placed before Ld.CIT(A) for admission Onus cast on the Appellant has not been discharged.addition u/s 68 on account of cash deposited in bank was correct when Assessee failed to give explanation regarding the source of cash. In the case of Appellant, it is seen that no details of any of the parties from whom it claims to have received the cash along with confirmation and other details to establish the identity, creditworthiness and genuineness of the transaction has been submitted. Therefore, in view of the facts and circumstances of the case, it is held that Appellant has not been able to explain the source of cash deposits in its bank account - Decided against assessee. Disallowing loss from business - HELD THAT:- The assessee has neither given any justification regarding loss nor filed any supporting evidences. Therefore, we do not see any reason to interfere in the finding of authorities below, the same is hereby affirmed. Non admitting the additional evidences - HELD THAT:- The assessee has not substantiated as to how the application for filing additional evidence was maintainable as per Rules. In the absence of the same, no reason to interfere in the finding of Ld. CIT(A). This ground of appeal is thus, dismissed. Failure to accept cash in hand - HELD THAT:- In the absence of any supporting evidences and in the form of cash flow etc., the plea of the assessee cannot be accepted that it had cash in hand. Hence, we find no interference in the finding of authorities below, the same is hereby affirmed. Thus, Ground raised by the assessee are dismissed. Debit entries of the bank account i.e. the assessee withdrew the cash from bank to make the payments to the farmers - HELD THAT:- As the onus was upon the assessee to explain the debit and credit entries in the bank accounts. In the absence of supporting evidences, we do not see any infirmity in the order of authorities below, the same is thereby affirmed. Non-providing the sufficient opportunity to the assessee - HELD THAT:- It is seen that the assessee has been negligent in not pursuing its case before the authorities below. Even before the Assessing Officer and after seeking adjournment, no one attended the proceedings. Therefore, the assessment was framed ex-parte to the assessee. Even before Ld.CIT(A), there was no appearance on behalf of the assessee. Even before this Tribunal, there was no appearance on behalf of the assessee. Hence, the conduct of the assessee had been grossly negligent - The authorities below were justified in making the addition and sustaining the same. Ground No.10 hence, is devoid of any merit, the same is dismissed.
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