Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2023 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (1) TMI 671 - HC - Income TaxUnexplained investment u/s 69B - survey operation u/s 133A - incriminating documents found and seized during the course of search proceedings in the case of the Director of the assessee company - identity as well as the genuineness of the transactions questioned - HELD THAT:- Initially, in inquiry under Section 133(6) of the IT Act, in the remand reports which have been tendered by the Assessing Officer pursuant to the directions issued by the CIT Appeals, he does not dispute the identity as well as the genuineness of the transactions. The only question was with regard to the creditworthiness. We are in agreement with both the authorities which have concurrently held that the initial burden, even if not discharged at the level of the assessing officer, but by production of documents before the CIT (Appeals) where two remand reports have been called for, every transaction having been made through banking channel, there was no reason to also question the creditworthiness. No question of law even otherwise arises for this Court to consider and hence the question (B) is not entertained. Question (C) being only the explanation to question (B), the same is also not entertained.
|