MUDIGERE BOREGOWDA RAMESH,BANGALORE vs. ITO, BANGALORE

ITA 1035/BANG/2014Status: DisposedITAT Bangalore24 August 2015AY 2009-104 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the additions made by the AO and confirmed by the CIT(A) due to the assessee's failure to furnish any evidence or explanation regarding the source of credit card payments or to contradict other additions.

What were the facts?

The assessee, engaged in the business of selling tyres and car accessories, declared an income of Rs. 4,90,010. The AO made additions, notably Rs. 2,97,030 for unexplained credit card payments, increasing the total income to Rs. 8,02,684.

What were the issues?

Whether the addition made by the AO on account of unexplained credit card payments is justified. Whether the assessee has provided sufficient evidence to explain the source of such payments.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SINGLE MEMBER BENCH : BANGALORE

For Respondent: Shri P.K.Srihari, Addl.CIT(DR)
Hearing: 24/08/2015Pronounced: 24/08/2015

Per D.MANMOHAN, VP:

This appeal by the assessee is directed against the order passed by the CIT(A)-II, Bangalore and it pertains to assessment year 2009-10. 2. Though notices were sent to the assessee at the address given in Form No.36, from time to time, none appeared on behalf of the assessee. Hence, I propose to dispose of the appeal ex-parte, qua the assessee.

3.

Facts necessary for disposal of the appeal are stated in brief. The assessee is engaged in the business of purchase and sale of Tyres, Tubes and car accessories in the name and style of M/s.Rakshith Tyres. For the year under consideration, he declared a Shri Mudigere Boregowda Ramesh total income of Rs.4,90,010/-, being income from business and other sources. The case was taken up for s

The order continues below.

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