2022 (12) TMI 399

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.... to consider three questions of law. 2. During the course of argument, Sri.A.Shankar, learned Senior Advocate for the appellant does not press questions No.2 & 3 and submits that only the following question is relevant: "1. Whether in the facts and circumstances and evidences on record and the law applicable the lower authorities were in error in confirming the assessment of Rs.24,75,400/- on the ground that the WILL was not properly notarized or registered and on the further ground that creditworthiness of the father-in-law is not established in view of undisputed fact that there was no cash credits and Section 68 of the I.T.Act 1961 did not apply to the facts of the appellant's case"? 3. Brief facts of the case are, ass....

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....A) and ITAT. 7. We have carefully considered rival submissions and perused the records. 8. Undisputed facts of the case are, for the assessment year 2009-10, assessee has deposited Rs.24,75,400/- in the bank. The A.O. has held that said amount belongs to assessee. the Assessee's case is, his father-in-law had given that money to his wife. Assessee has not appeared before the Assessing Officer. The explanation given by Shri Shankar for nonappearance is that notice was issued to assessee's employer and the same was not made known to him. He submitted that assessee has stated both the facts namely, that a sum of Rs.3,20,0000/- was received from one Smt.Nagarathna to make payment to a housing co-operative society; and that a sum o....