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2022 (9) TMI 456 - AT - Income TaxAddition u/s 68 - assessee said to have repaid the amount in subsequent years and no details is being produced - HELD THAT:- There is a Paper Book filed by the assessee which is running wherein copies of the Ledger Account, Purchase Bills, Purchase Register and Sales Register were being filed. But no details about copy of the bank statements on the Repayment of the above amount to ACE Enterprises by the assessee during the Financial Year 2014-15 & 2015-16. A.O. during the remand proceedings confirmed that mere filing of purchase bill, purchase register alongwith sales register does not serve the purpose of confirming the outstanding liability in the name of ACE Enterprise. Further verification by the Department it was found that no such person in the above address and it was only a residential complex.The assessee failed to provide necessary details before any of the Authorities. We have no hesitation in upholding the order passed by the Ld. CIT(A) and confirming the addition. Decided against assessee.
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