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2022 (10) TMI 357 - HC - Income TaxUnexplained cash deposit in the bank - only contention of the appellant is that the amount deposited in the appellant’s account is the sale value of land belonging to the appellant’s wife which was sold in favour of Shri.Sajeev Mathai - HELD THAT:- Merely by producing the sale deed which shows the sale consideration and trying to connect it with the deposit in the account on the very same day of the same transaction will not discharge the onus from the shoulder of the assessee. Only if the assessee discloses the source of income (the entire amount) then only the burden under Section 106 of the Evidence Act stands discharged and the onus then shifts to the AO. In the case on hand, the amount deposited whereas the document shows only the value - Thus, the appellant though disclosed the source of the cash deposit in the bank, he has not discharged the burden of proof on him. Hence the decision reported by the counsel for the appellant has no application. Tribunal looked into all the aspects and found that the AO as well as the first appellate authority failed to give credit to the amount which was shown in the sale deed and thereby it was partly allowed reducing the total income - we are of the opinion that the substantial questions of law are answered against the appellant.
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