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2017 (6) TMI 482 - AT - Income TaxAddition u/s 68 - ingenuity of deposits - Held that:- As assessee has not furnished any details in respect of alleged applicants for the period under consideration, which could discharge initial onus cast upon assessee u/s 68 of the Act. We feel that it will not serve any purpose to set aside issue again for verification to Ld. AO, as assessee has already admitted in its reply dated 14.11.2011, that these applicants are no longer share holders of assessee and will not be possible to produce their current details. Under above noted facts and documents placed on record, we therefore, do not hesitate to up hold order of Ld. CIT(A). Accordingly, grounds raised by assessee stands dismissed.
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