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Primary Obligation is of Assessee to Prove Source of Credit in Bank Account
Case Law Details
- Case Name
- Shanthi R. Pai Vs ITO (ITAT Bangalore)
- 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 Bangalore
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Shanthi R. Pai Vs ITO (ITAT Bangalore)
AO made addition of Rs.26,79,000/- on account of cash deposits. Assesee stated that she is a home maker & her husband was employed overseas as Chartered Accountant serving overseas from 1975 to 2008. He used to send money from abroad and also invested in Term Deposits in India in his name and her name. Regarding the cash deposits, assessee stated that sources for the deposit might be interest free loans, which were given by her husband to his friends and relatives have been received back. But the explanation was not supporte...
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