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2006 (8) TMI 129 - HC - Income TaxCash credits - credit entry of Rs. 2,55,000 in the savings bank account of the assessee - genuineness of the transaction – burden of proof - Tribunal has dealt with the matter in great detail. It is clear that the appellant has not availed of the repeated opportunities granted to him and has miserably failed to establish the identity and the creditworthiness of the donor as also the genuineness of the transaction. - In the present case the appellant has been pursuing for the last over 14 years, a line of argument which is contrary to well-settled principles of law by continuing to insist that he has no responsibility to establish the identity and creditworthiness of the donor and the genuineness of the transaction and that the entire responsibility rests with the Department. - we find this is neither bona fide nor responsible conduct on his part – hence there is no any infirmity in tribunal’s order - no question of law arises in the present case, we dismiss the present appeal. - taxing authorities were justified in treating the amount of Rs. 2,55,000 as the income of the assessee.
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