Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (1) TMI 1045 - HC - Income TaxAddition u/s 68 - Held that:- The cheque numbers have been mentioned in the said affidavits. The dates of cheques mentioned in all affidavits are 23rd August, 2006 and cheques had been drawn on Vijaya Bank, Borivali branch. The last digit of cheque numbers is 1 and that is how a finding has been recorded that cheque books issued to all the 23 persons were of the same series and first leaf was used by all of them for allegedly making payment of the subscription. The findings of fact of the Appellate Tribunal are completely borne out from the record. As stated earlier, neither before the CIT (A) nor before the Appellate Tribunal, the appellant offered to procure presence of those 23 persons. Therefore, there is finding of fact recorded by the Appellate Tribunal confirming the observation of the Assessing Officer that the appellant - assessee had failed to establish the creditworthiness of the subscribers and even genuineness of the transactions. - Decided against assessee
|