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2023 (11) TMI 389 - ITAT DELHIAddition u/s 68 - unexplained cash credit - onus to prove - HELD THAT:- During the second round of the assessment proceedings after remand by the Tribunal, the assessee has not filed the required details as called for to explain the credits but the assessee has filed a confirmation, thereafter, which does not contain the date and also not contain the seals/stamp of the company. The said confirmation does not even disclose regarding the mode of advance whether by cheque or cash. Though the bank statement produced by the assessee reflects the depositing of 50,00,000/-, but does not indicates as to whom from the said amount has been received. The assessee has not produced any document before the CIT(A) or before us to prove the identity to the creditworthiness of the creditor and the genuineness of the transaction. CIT(A) has also observed that ‘the assessee has failed to explain cash credit within the meaning of section 68 - Thus lower authorities have committed no error and we find no infirmity in the order of the CIT(A). Decided against assessee.
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