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2022 (3) TMI 64 - AT - Income TaxAddition u/s 69A - cash deposited into bank accounts - HELD THAT:- Assessee failed to explain source of the cash deposits. It was, however, stated that the aforesaid bank accounts were opened to provide accommodation entries. However, CIT(A) held that the assessee failed to substantiate the above contention with any evidence in this respect. So far as the contention of the assessee about the declaration of income of ₹ 84010/- made by the assessee u/s. 183 of the Finance Act, 2016 and accepted by the Principal Commissioner of Income Tax while deciding this issue, the Ld. CIT(A) in his order specifically stated that there was no established nexus between the aforesaid cash deposits and said declaration. Since neither anyone has appeared on behalf of the assessee, nor any evidence has been brought on record to substantiate the contention of the assessee, we therefore do not find any reason to interfere with the order of the CIT(A). - Decided against assessee.
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