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Addition on non confirmation of advances by the parties - It is true that in the absence of proper confirmations, the Assessing officer was justified in treating the amount in question as unexplained cash credits. The onus was on the assessee to prove the genuineness of the transactions. - Tri

Income Tax - Addition on non confirmation of advances by the parties - It is true that in the absence of proper confirmations, the Assessing officer was justified in treating the amount in question as unexplained cash credits. The onus was on the assessee to prove the genuineness of the transactions. - Tri - TMI Updates - Highlights .....

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