Addition u/s. 68 justified for Capital introduced by partner in assessee firm from sale of agricultural land with No documentary evidence to substantiate sale

We are concerned with the second part of section 68 of the Act, because an explanation has been offered by the assessee in the present matter that the sum entered as cash entry to the credit of the account of the partner was derived from the sale of agricultural land by the Hindu undivided family for the said partner. It is clear that a mere explanation is not sufficient to dis­charge the onus of the assessee under section 68 of the Act. The explanation must also be supported by certain documents regarding its genuineness.

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