Failure to Discharge onus to Prove Genuineness of cash credited by cheques in various Bank Accounts: ITAT Restores matter to file of AO [Read Order]

Failure - Discharge - Prove-Genuineness - cash-credited - cheques - Bank- Accounts-ITAT - AO-TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Delhi bench held that assessee was failed to discharge the onus to prove genuineness of cash credited by cheques in various bank accounts. Assessee Ashok Kumar Gupta’s  original assessment was completed under Section  144/147 of the Income Tax Act, 1961. Thereafter on the basis of information received from the…

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