Unexplained investment - Primary onus - The assessee has ...

Case Laws Income Tax

September 1, 2022

Unexplained investment - Primary onus - The assessee has deposited cash in its ICICI Bank account on various occasions, and onus is very heavy on assessee to explain these cash deposits. It is for the assessee to substantiate its state of affairs and income which is chargeable to tax. If the assessee fails to discharge its primary onus, then Revenue has all the right to bring to tax unexplained credits, money as well investments - AT

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Unexplained investment - Primary onus - The assessee has ...

Case Laws Income Tax

September 1, 2022

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