{"id":15897,"date":"2021-03-24T12:15:08","date_gmt":"2021-03-24T06:45:08","guid":{"rendered":"https:\/\/itatonline.org\/digest\/shantananda-steels-p-ltd-v-ito-2020-182-itd-434-195-dtr-417-208-ttj-672-chennaitrib\/"},"modified":"2021-03-24T12:15:08","modified_gmt":"2021-03-24T06:45:08","slug":"shantananda-steels-p-ltd-v-ito-2020-182-itd-434-195-dtr-417-208-ttj-672-chennaitrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/shantananda-steels-p-ltd-v-ito-2020-182-itd-434-195-dtr-417-208-ttj-672-chennaitrib\/","title":{"rendered":"Shantananda Steels (P.) Ltd. v. ITO (2020) 182 ITD 434 \/ 195 DTR 417 \/ 208 TTJ 672 (Chennai)(Trib.)"},"content":{"rendered":"<p>Dismissing the appeal of the assessee the Tribunal held that mere submission of\u00a0 name and address of\u00a0 creditor, income tax returns, balance sheet\/statement of\u00a0 affairs of\u00a0 creditor and bank statement of\u00a0 creditor is not sufficient. The Assessing Officer can go to enquire\/investigate into truthfulness of assertion of\u00a0 assessee regarding nature and source of\u00a0 credit in its books of\u00a0 account and in case Assessing Officer is not satisfied with explanation of\u00a0 assessee with respect to establishing identity and creditworthiness of\u00a0 creditor and genuineness of\u00a0 transactions, he is empowered to make additions as unexplained cash credits. (AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68 : Cash credits-Share capital-Mere submission of  name and address of  creditor, income tax returns, balance sheet\/statement of  affairs of  creditor and bank statement of  creditor is not sufficient.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-15897","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-48p","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=15897"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15897\/revisions"}],"predecessor-version":[{"id":15898,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15897\/revisions\/15898"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=15897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=15897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=15897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}