Dear experts,
This query pertains to tax evasion.
A person claims to have spent huge amount of *unaccounted* money (in tune of over 30 lakhs) in marriage of his daughter. A tax evasion petition was filed against this person and a notice under Income Tax Act was issued. Upon asked to reveal his sources of such huge amount of money, he submits as follows: -
All of the above submissions have been made verbally and absolutely NO supporting evidence has been produced that such transactions ever happened. Two affidavits signed by his deceased father in law (he was alive then) as well as his sister in law were submitted that they gifted those articles but there is no proof (bills, photographs etc.) The above submissions were made to the Income Tax Officer and surprisingly, he has given a clean chit to the person and closed the Tax Evasion Petition. From my knowledge, there are numerous such cases where the person making false submissions were penalized heavily by Income Tax Department.
My queries are: -
HELP.... please!
Kind Regards,
CC