The Tribunal held that the assessee ought to have proved with evidence that it was not its money but had failed to do so. Considering the complex nature of transactions, the matter was to be remanded for fresh consideration by the Assessing Officer with liberty to the assessee to prove its case by producing sufficient material to the satisfaction of the Assessing Officer. (AY. 2012-13)
Sekani Industries Pvt. Ltd. v. Dy. CIT (2022) 97 ITR 39 (SN) (Ahd.)(Trib.)
S. 68: Cash credits-Complex transaction-Matter remanded for fresh consideration.