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2018 (8) TMI 763 - HC - Income TaxAdditions u/s 68 - unexplained cash credit - further addition in respect of disallowance of interest thereon - onus of the assessee to prove source of source - Held that:- It is true that this Court has been consistently taking a view that prior to amendment to Section 68 of the Act w.e.f. 1st April, 2013, it is not necessary to establish the source of the source. However, in the present case, both the authorities i.e. CIT(A) and the Tribunal have on facts found the transaction is not genuine. This was on the appreciation of all facts, including the absence of the 9 companies of Khandar Group doing any business to generate such huge funds, even when they appeared before the authorities - Additions confirmed - Decided against the assessee.
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