Cheque issue business - Genuineness of activity - onus to prove in case of No-account case - money...

Cheque issue business - Genuineness of activity - onus to prove in case of No-account case - money laundering and financial accommodation business - In fact, the AO correctly observes that even in a ‘no accounts’ case, the assessee is supposed to furnish evidences in support of his claim/s. A finding of fact by the assessing or an appellate authority could, after all, only be on the basis of material on record - AT .....

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