Unexplained cash credit addition sustained in best judgment assessment where assessee failed to support advances with required evidence.

A best judgment assessment under section 144 led to advances being treated as unexplained cash credit under section 68 after the assessee failed to comply with repeated notices and furnish the required details. The appellate authority had already examined the material filed through the e-filing portal and given reasons for rejecting the claim, and no contrary material was produced before the ITAT to dislodge those findings. The addition was therefore sustained and the assessee's challenge failed.

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Issues: Whether the addition made on account of advances treated as unexplained cash credit in a best judgment assessment warranted interference.

Analysis: The assessment was completed under section 144 after the assessee failed to comply with repeated notices and to furnish the details called for by the Assessing Officer. On that basis, the advances received were treated as unexplained cash credit under section 68. The appellate authority had already considered the material placed through the e-filing portal and dismissed the appeal with reasons, and no contrary material was placed before the Tribunal to dislodge those findings.

Conclusion: The addition was sustained and the assessee's challenge failed.

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