Dismissing the appeal of the assessee the Court held that genuineness and capacity of the parties who have given advance was not proved. Accordingly the addition by Tribunal is held to be justified. (AY. 2003 -04)
R. Natvarlal Parekh v. ITO . (2018) 172 DTR 397 (Bom.)(HC)
S. 68 : Cash credits-Variation in closing balance in bank statement and debit balance in books Income—Advance received- Not proved satisfactorily–Addition is held to be justified.