7 results for “section 68”+ Section 131clear
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In the result, the appeal of the assessee is allowed
Bench: Shri.Vijay Pal Raoassessment Year: 2010-11 Surendra Nath Singh, V. Income Tax Officer, Tilak Nagar Colony, Mahuabagh, Ward-3(5), Ghazipur Ghazipur-233001 Pan-Bphps5975K (Appellant) (Respondent) Appellant By: Sh. Apramay Gabhawala, Ca Respondent By: Sh. A.K. Singh, Sr. D.R. Date Of Hearing: 05.07.2022 Date Of Pronouncement: 25.07.2022 O R D E R
section 68 were not proved by him, the addition of Rs. 7 lakhs was justified. Though, it was obligatory on the part of the assessee to prove identity, genuineness of transaction and creditworthiness of the lenders, but the assessee did not produce any evidence to prove those ingredients. He simply filed a letter dated 17/1 1/2017 merely stating names