Necessary Documents should be filed to prove bonafide intention when money received from overseas

Brief of the Case ITAT Kolkata held In the case of Sri Som Dutt v ACIT  that whenever, the money has been received from overseas, then the onus is on the Assessee to prove that all the transactions are bonafide when he is claiming that the amount has been received as Capital Receipt. Also, by not completing all the formalities i.e. filing of proper and genuine documents related to the transaction will render the whole amount as Taxable. Facts of the Case The facts of the case are that the AO during the course of assessment proceedings noted that the assessee has credited in his capital accou...