Addition to capital account of partner sustained on failure to furnish supporting evidence

Sunny Silks vs ACIT (Kerala High Court) Kerala High Court held that addition to the capital account of the partner duly sustainable in law on account of failure of the assessee to furnish supporting evidence. Facts- The petitioner had approached this Court impugning the assessment order, against which the petitioner had preferred an appeal before CIT(A). The petitioner had also moved an application for staying the demand issued in pursuance of the assessment order. Notably, the addition u/s. 145A is seen to be done based on judicial pronouncements and therefore the merit in the addition can b...