Unexplained cash deposits under section 69A upheld where claimed sources lacked documentary support and factual findings remained unshaken.

Cash deposits were treated as unexplained money under section 69A where the assessee failed to appear before ITAT and produced no documentary evidence to support the claimed sources. The explanations that the deposits were business receipts, savings, or help from friends and relatives were rejected because they were unsubstantiated, and the Assessing Officer and first appellate authority had already recorded concurrent factual findings against the assessee. In the absence of corroboration, there was no basis to disturb those findings, and the addition under section 69A was upheld.

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Issues: Whether the addition of cash deposits as unexplained money under section 69A of the Income-tax Act, 1961 was liable to be deleted.

Analysis: The assessee did not appear before the Tribunal and placed no material to controvert the findings of the lower authorities. The explanation that the cash deposits represented business receipts, savings, or assistance from friends and relatives was not supported by acceptable documentary evidence. The Tribunal noted that both the Assessing Officer and the first appellate authority had examined the record and found the source of the deposits to be unsubstantiated. In the absence of corroboration for the claimed sources, no basis was found to disturb the concurrent factual findings.

Conclusion: The addition under section 69A was upheld and the assessee's challenge failed.

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