1982 (12) TMI 82

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....The ITO was of the view that since the amount of Rs. 10,000 was credited in the books of the firm and the same remained unexplained it was assessable in the hands of the AOP as income from undisclosed sources. Thus Rs. 10,000 was added. 3. The assessee appealed before the AAC of IT (AAC for short) that the ITO erred in making the addition in the case of the AOP, whereas the members themselves have shown such income in their individual return and, therefore, the action cannot be sustained That apart, it is submitted that the AOP came into existence on the basis of the agreement made between them dt 1st December 1977, in which it has been stated specifically that the above two parties have been doing business in kerosene and lubricant oils....

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....f the business by the AOP particularly, when the member of the AOP themselves have owned income and declared solemnly that income belonged to them in their respective return. Briefly speaking it is urged that the addition may be deleted. 5. On behalf of the revenue, the ld. departmental representative supports the order of the AAC. It is pointed out that the AAC has correctly applied the provisions of s. 68 in which it is provided that it is the assessee's burden to furnish explanation and to lead evidence in such a situation and if the assessee has failed to do so, the action of the ITO requires to be upheld. It is pointed out that it is immaterial whether the members of the AOP have shown identical sum in their respective return. In sh....