S. 68 Cash Receipt from Debtors: Addition justified on failure to prove

ITO Vs Sanjeev Kejriwal (ITAT Kolkata) Conclusion: Addition under section 68 on account of entire credits shown by assessee in form of realization from debtors was justified as the onus was primary on assessee to prove that the said cash was sourced by realization from debtors, which had not been proved by assessee except making an oral statement and taking credence from the entries passed by him in the books of accounts. Held: From the details filed during the course of assessment proceedings, AO sought to verify the sundry debtors balance as appearing in books of assessee-proprietary concer...