2025 (9) TMI 373

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....JUDGMENT SUNDER MOHAN, J. The Tax Case Appeal impugns the order dated 24.04.2024 passed by the Income Tax Appellate Tribunal (hereinafter referred to as 'the ITAT') "B" Bench, Chennai. 2. The appeal arises under the following circumstances. (a) The assessee/appellant, an individual, filed the return of income on 24.03.2018 for the Assessment Year 2016-17, declaring a tota....

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.... referred to as 'the CIT (A)'] rejected the grounds of appeal and upheld the order passed by the Assessing Officer by the order dated 24.03.2023. (f) The ITAT also dismissed the appeal vide the impugned order. 3. The appellant had proposed the following substantial questions of law. "1. Whether, on the facts and in the circumstances of the case and in law, the Hon'....

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....in the circumstances of the case and in law, the Hon'ble ITAT was justified in upholding the addition made u/s.68 of the Income Tax Act, 1961, by treating the sale proceeds of impugned equity shares as unexplained credits, despite the appellant furnishing all necessary evidence to establish the nature and source of the sale transaction? 4. From a perusal of the impugned order, it is seen th....

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....her circumstances to disbelieve the appellant's case. The CIT(A) also found that though sufficient opportunity was given to the assessee/appellant to prove that it was a genuine transaction, the appellant failed to produce any evidence. 6. The only ground raised by the assessee/appellant before us is that since her husband was bedridden, she was unable to produce the evidence before the Ass....