Addition of capital introduced by the appellant as unexplained ...

Case Laws     Income Tax

February 23, 2022

Addition of capital introduced by the appellant as unexplained cash credit u/s. 68 - Mere oral submissions or indication that evidences will be provided if revenue asked at later stage shows that the assessee was not at all dispensed the burden of proving his claim that the said income and expenses were part of agricultural income. As regards the explanation for the personal account and its maintenance, the Ld. A.R. has not set out any case as to why said practice was followed by the assessee. The assessee was not at all maintaining proper books of accounts. - additions confirmed - AT

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