https://www.taxtmi.com/caselaws?id=61589 The Appellate Tribunal ITAT Chandigarh-A upheld the assessing officer's decision to treat a deposit of Rs. 50,000 as unexplained investment by the assessee. Despite explanations provided, including the deposit being from a previous fixed deposit receipt, the Tribunal found the source of the investment inadequately explained. Emphasizing the discretion of the assessing officer in such cases, the Tribunal concluded that the addition on account of unexplained investment was justified. The appeal was dismissed, affirming the lower authorities' decisions. en-us Thu, 08 Jul 2004 00:00:00 +0530 Thu, 13 Jan 2011 14:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61589 The Appellate Tribunal ITAT Chandigarh-A upheld the assessing officer's decision to treat a deposit of Rs. 50,000 as unexplained investment by the assessee. Despite explanations provided, including the deposit being from a previous fixed deposit receipt, the Tribunal found the source of the investment inadequately explained. Emphasizing the discretion of the assessing officer in such cases, the Tribunal concluded that the addition on account of unexplained investment was justified. The appeal was dismissed, affirming the lower authorities' decisions. Case-Laws Income Tax Thu, 08 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61589