High Court of Karnataka Dismisses Assessee's Appeal in Income Tax Case — Unexplained Cash Credit of Rs.40 Lakhs Confirmed as Income Under Section 68 of Income Tax Act, 1961. Assessee Failed to Prove Identity, Creditworthiness, and Genuineness of Loan Transactions.
28 Aug 2013The appellant, Shri Basayya R Nandegol, a civil contractor, filed his return of income for the assessment year 2007-08 declaring a total income of Rs....




