Unexplained cash credit u/s 68: Addition sustained on failure to discharge onus cast on assessee

Sanjib Sudhir Pradhan Vs ITO (ITAT Mumbai) ITAT Mumbai held that the assessee has not discharged its onus to satisfactorily prove the incurring of expenditure for running the alleged Hotel Management Business. Thus, in absence of satisfactory documentary evidence, addition u/s. 68 of entire turnover disclosed as hotel management business sustained. Facts- During the reassessment proceedings, it was observed that the assessee has shown Hotel Management Business in the case of Shri Sanjib Sudhir Pradhan in his individual capacity. Since the assessee failed to produce any documentary evidence in ...