Dismissing the appeal of the assessee the Court held that, cash was deposited on the same day that cheque for that amount was issued. As the explanations offered were not found satisfactory addition as cash credits is held to be justified. (AY. 2012-13)
Pawan Kumar Garg. v. CIT (2019) 410 ITR 131 (P&H) (HC)
S. 68 : Cash credits—loan from wife-Cash was deposited on the same day that cheque for that amount was issued- Addition is held to be justified.