Court Rejects Assessee's Claim of Unexplained Cash Ownership, Citing Lack of Credible Evidence and Strategic Intent.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Unexplained cash - It is difficult to comprehend that when the assessee was neither the partner nor the director nor the owner of the said company then how the cash can be said to be belonging to a third party. In our opinion, this is a plea taken by the assessee just to explain the cash the said plea is required to be rejected as the said plea has been made by the assessee to serve his own purpose without any basis.....