Unexplained cash credit addition restored where the assessee failed to prove source and supporting evidence.

An addition for unexplained cash credit under section 68 was restored because the assessee failed to appear and did not produce supporting evidence, an explanation, or the source of investment during assessment or remand proceedings. The first appellate authority's deletion was held unsustainable on that evidentiary record, and the Revenue's appeal was accepted.

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Issues: Deletion of the addition made on account of unexplained cash credit under section 68 of the Income-tax Act, 1961.

Analysis: The assessee did not appear before the Tribunal, and the record showed that the assessee had failed to produce supporting evidence, explanation, and source of investment during the assessment as well as remand proceedings. In these circumstances, the order of the first appellate authority deleting the addition was found to be unsustainable.

Conclusion: The deletion of the addition was set aside and the Revenue's appeal was accepted.

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