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Addition u/s. 68 justified if creditworthiness of creditor & genuineness of transaction not proved

Case Law Details

Case Name
Dr. D. Siva Sankara Rao Vs Income-tax Officer (Andhra Pradesh High Court)
Date of Judgement/Order
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HIGH COURT OF ANDHRA PRADESH Dr. D. Siva Sankara Rao Versus Income-tax Officer I.T.T.A.NO. 6 OF 2012 NOVEMBER 27, 2012 JUDGMENT M.S. Ramachandra Rao, J. – This appeal is filed under Section 260-A of the Income Tax Act, 1961 (for short ‘the Act’) by the assessee challenging the order dated 16-03-2007 in I.T.A.No.8/Vizag/2006 of the Income Tax Appellate Tribunal, “SMC”, Visakhapatnam relating to the assessment year 2002-2003. 2. The Kartha of the appellant/assessee HUF by name Dr. D. Siva Sankara Rao is a medical practitioner running a hospital by name Siva Speciali...
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