Lack of substantiation & evidence: Bank Credits & Salary Additions Upheld

Rajiv Venkatpathi Gowda Vs DCIT (ITAT Bangalore) No Proof, No Relief -Admitted Salary & Unexplained Deposits – Appeal Fails Before ITAT Bangalore A search u/s 132 was conducted on 17.02.2021 in the case of MG Charitable Trust, where Assessee was a trustee. Cash, jewellery & silver articles were seized. Assessee admitted u/s 132(4) to having collected unaccounted cash from students for medical college admissions & offered it as additional income in his own hands. Notice u/s 153C was issued. Assessee filed return declaring only ₹3 lakh as “income from other sources”. AO notic...