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2023 (3) TMI 767 - AT - Income Tax
Unexplained bank deposits - undisclosed income of assessee - non discharge of onus - HELD THAT:- Assessee has not proved that sum received from Shri Sunda Ram towards purchase of the property which was deposited in the bank account the source of cash deposit is not explained.CIT(A) has rightly dismissed the appeal of the assessee, that the assessee has failed to discharge the onus of proving in order to demonstrate the genuineness of the transactions
As full facts and settled proposition of law, the assessee has failed to discharge the onus of cast earning with regard of creditworthiness of genuineness of transaction, hence we confirmed the order of the ld. CIT(A). Thus, the appeal of the assessee is dismissed.