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Lack of evidence & Unexplained Cash Credits; Cochin ITAT upholds additions against Charitable Trust
Case Law Details
- Case Name
- Sreepathy Trust Vs DCIT (ITAT Cochin)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Cochin
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Sreepathy Trust Vs DCIT (ITAT Cochin)
Assessee is a trust registered under Section 12AA & the original assessment was completed u/s 143(3). It was reopened u/s 147 based on information received regarding certain cash credits that remained unexplained. Assessee filed return in response to 148 notice. During the reassessment proceedings, AO specifically asked the assessee to furnish complete details of persons from whom loans or advances had been received. This included names, addresses, dates, amounts, modes of receipt/payment & bank statements. Assessee s...
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