INCOME TAX ACT, 1961

Section 68

Income from undisclosed sources - Addition under section 68 - Unexplained cash deposited in saving bank account - Assessee failed to substantiate her claim with relevant supporting evidence

AO on verification and investigation established that the assessee could not substantiate her claim with relevant supporting evidence in respect of cash deposited in saving bank account. Subsequently, before CIT(A) assessee had also completely changed the facts of her own claim that the said bank account was not opened by her and it was opened by a travel agent and all the transactions with the bank were also made by him. Thus, addition was made under section 68 as unexplained cash deposit. Held: The assessee had failed to produce any material to substantiate her contradictory claim made before CIT(A). Further, the altogether different claim as made before CIT(A) that the bank account was not belonged to her was found to be false claim. Considering these specific facts which are distinguishable from the cases referred by the assessee, no infirmity could be found in the order making addition under section 68.

REFERRED :

FAVOUR : Against the assessee

A.Y. : 2010-11 & 2011-12

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