Bhushan Uttamrao Bachhav, Nashik vs. Income-Tax Officer
In the result, appeal of the assessee is dismissed
ITA 503/PUN/2015[2010-11]Status: DisposedITAT Pune10 Jan 2018AY 2010-11
Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.503/Pun/2015 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2010-11 वष"
For Appellant: Shri Pramod ShingteFor Respondent: Dr. Vivek Aggarwal, CIT-DR
Section 44ASection 68
…2. Premnath Goyal & Co. Vs. CIT 271 ITR 390 – Delhi High Court 3. CIT Vs. Ajay Kumar 259 ITR 240 – Rajasthan High Court 4. CIT Vs. Heeralal 257 ITR 261 – Rajasthan High Court 5. Shri Sohan Vs. CIT 256 ITR 659 – Punjab & Haryana High Court 6. Roopchand Vs. CIT 235 ITR 461 Guwahati High Court 7. Rajshree Vs. CIT 256 ITR 331 – Rajasthan High Court 8. Thus, the AO took adverse inference about the credit worthiness of the payees and the genuineness of the transaction. Further, AO held that the assessee introduced his own funds in the name of 45 different persons for raising the said amount of Rs.1.80 crores in a s…
