2026 (3) TMI 527

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....M]: The above captioned appeal is preferred by the assessee against the orders dated 23.09.2011, by Ld. CIT(A)-XXVIII u/s. 250 of the Income Tax Act, 1961 [hereinafter referred to as, "Act"] for A.Y. 2006-07. 2. The sole issue in the case is addition of Rs. 12.50 lakh as unexplained cash credit u/s. 68 of the Act in assessment framed u/s. 144 of the Act.  None appeared from the assessee....

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.... assessee to produce the sale-purchase bills etc. 5. In the instant case, we find that the assessee has attempted to prove the entire source of cash deposit as cash sales of dairy products. Although the assessee, prima facie, appears to have discharged its onus of explaining source of cash deposit, it's contentions to prove the source, hardly deserves to be accepted in entirety especially when ....