https://www.taxtmi.com/caselaws?id=378924 The Tribunal upheld the addition of &8377;1,45,26,000 to the assessee's income under Section 68 of the Income-tax Act due to the failure to prove the loan claim for introducing capital. Disallowance of expenses totaling &8377;3,69,14,496 was confirmed as the assessee could not produce bills/vouchers for verification. The disallowance of current liabilities and provisions was upheld as the assessee did not provide evidence of payment during the relevant assessment year. The appeal was dismissed as the assessee failed to substantiate claims and provide necessary evidence, affirming the decisions of the lower authorities on all issues. en-us Thu, 31 Jan 2019 00:00:00 +0530 Wed, 24 Apr 2019 09:12:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378924 The Tribunal upheld the addition of &8377;1,45,26,000 to the assessee's income under Section 68 of the Income-tax Act due to the failure to prove the loan claim for introducing capital. Disallowance of expenses totaling &8377;3,69,14,496 was confirmed as the assessee could not produce bills/vouchers for verification. The disallowance of current liabilities and provisions was upheld as the assessee did not provide evidence of payment during the relevant assessment year. The appeal was dismissed as the assessee failed to substantiate claims and provide necessary evidence, affirming the decisions of the lower authorities on all issues. Case-Laws Income Tax Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378924