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S. 68 Once Assessee discharge initial burden of proving creditworthiness of parties onus shift on revenue to prove otherwise
Case Law Details
- Case Name
- Vishnu Jaiswal Vs Commissioner of Income-tax (Appeals) (ITAT Lucknow)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2006-07
- Courts
- All ITAT, ITAT Lucknow
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IN THE ITAT LUCKNOW BENCH (THIRD MEMBER)
Vishnu Jaiswal
V/s.
Commissioner of Income-tax (Appeals)
IT APPEAL NO. 336 (LKW.) OF 2011
[ASSESSMENT YEAR 2006-07]
MAY 1, 2012
ORDER
Sunil Kumar Yadav, Judicial Member
This appeal is preferred by the assessee against the order of the ld. CIT(A) mainly on two grounds. One ground is with regard to the addition of Rs. 3.50 lakhs under section 68 of the Income-tax Act, 1961 (hereinafter in short “the Act”) and the other is with regard to the disallowance of telephone expenses of Rs. 5,000 on estimate basis.
2. The farts in brief are that with r...
