Dismissing the appeal of the assessee the Court held that; cash was deposited in the bank accounts, the creditors did not respond and the assessee has not requested for cross examination. Addition is held to be justified. (AY. 2005-06)
Suresh Kumar T. Jain v. ITO (2019) 260 Taxman 326/ 178 DTR 44/ 309 CTR 92/(2020) 423 ITR 489 (Karn.)(HC) Editorial : Suresh Kumar T. Jain v. ITO ( 2011) 128 ITD 74 (Bang ) (Trib) is affirmed.
S. 68 : Cash credits -Cash deposited in bank- creditors did not respond – Cross examination was not requested – Addition is held to be justified.