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Income Tax

Addition for cash deposit in bank justified if Assessee fails to explain source of deposit

Case Law Details

Case Name
Karan Bhalla Vs ITO (ITAT Delhi)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2008-09
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Karan Bhalla Vs ITO (ITAT Delhi) The assessee has given the details of source of the cash which are reproduced in the order of the Ld. CIT(A).However no supporting documents have been filed. The assessee did not produce any independent evidence in support of cash flow statement. No evidence of any amount is received on occasion of marriage and birthday have been filed. Even during the course of arguments, the assessee was not able to produce any evidence to prove that in fact marriage of the assessee had been performed in February, 2007. Anyhow if the claim of assessee may be considered favour...
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