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2022 (8) TMI 1027 - AT - Income TaxAddition u/s 68 - share application money/un-secured loans received by the assessee from various entities observing that the assessee did not prove identity, creditworthiness and genuineness of the loan creditors and identity and source of share application money was not established - HELD THAT:- Before the ld. CIT (Appeals) the assessee could not establish the genuineness of the share application money and the un-secured loans by filing the necessary evidences and the ld. CIT (Appeals) sustained additions The notice issued by the Registry fixing the date of hearing 20.06.2022 returned un-served with the endorsement “Left without address”. The assessee even before us could not produce any evidence to substantiate its claim. None of the averments made in the assessment order were rebutted with evidences before us. In the circumstances, we uphold the order of the Assessing Officer as well as the ld. CIT (Appeals) and reject the grounds raised by the assessee.
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