Held that the company had shown the amount before the sales tax authorities and the sales tax authorities had also accepted the sales belonging to Lux Industries Ltd Kolkata. The assessee had discharged the burden by disclosing the source of cash amount by filing evidence available on the record. Addition is held to be not justified. (AY. 2012-13)
Ashok Kumar Banthia v. Dy. CIT (2021) 92 ITR 505 (Jodhpur)(Trib.)
S. 143(3) : Assessment-Income from undisclosed sources-Commission agent-Director admitted that cash seized belong to the company-Sales tax authorities accepted that sales the sales shown by the company-Extracts of cash book certified by the Chartered Accountant was filed-Addition was deleted. [S. 132(4)]