The assessee received Rs. 125 lacs in cash from SGCFCL for ...

Cash payment of Rs. 125 lacs received for facilitation but not recorded; Assessee failed to prove non-income nature.

Case Laws     Income Tax

August 21, 2024

The assessee received Rs. 125 lacs in cash from SGCFCL for facilitation work, which was not recorded in the books. The assessee claimed the amount was paid to 2500 shareholders, but failed to provide evidence of such payments. The onus was on the assessee to prove the impugned payment did not constitute income, which the assessee failed to discharge. The assessment was based on incriminating material and the assessee's statement admitting receipt of cash payment. The Appellate Tribunal upheld the assessment, rejecting the assessee's arguments.

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