Assessee Fails to Prove Loan- ITAT Delhi Upholds Rs.1 Cr Addition

AV Mines Pvt. Ltd. Vs ITO (ITAT Delhi) Assessee Fails to Prove Loan-  ITAT Delhi Upholds Rs.1 Cr Addition   – No Evidence, No Relief: Tribunal Dismisses   Appeal Against 68 Addition Assessee appealed against order of CIT(A) –  which had upheld best judgment assessment u/s 144 making addition of Rs.1 crore u/s 68. AO had issued several notices but received no compliance. Consequently, he completed assessment ex parte, treating advances received from Kohinoor Steels Pvt. Ltd. as unexplained cash credit u/s 68 due to failure of Assessee to furnish confirmations, bank statements or i...