https://www.taxtmi.com/caselaws?id=123035 The Tribunal rejected the argument of lack of opportunity and application of mind by the Assessing Officer, upholding the assessment order as not arbitrary. It upheld the treatment of unexplained cash credits, bank deposits, and fixed deposits as undisclosed income, finding the explanations provided by the assessee lacking credibility. However, the Tribunal deleted the additions for unexplained cash and withdrawals for personal expenses, providing relief to the assessee. The appeal was partly allowed, with the majority of the Assessing Officer's and Commissioner of Income-tax (Appeals)' orders being upheld. en-us Wed, 23 Jun 2010 00:00:00 +0530 Tue, 11 Jun 2013 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123035 The Tribunal rejected the argument of lack of opportunity and application of mind by the Assessing Officer, upholding the assessment order as not arbitrary. It upheld the treatment of unexplained cash credits, bank deposits, and fixed deposits as undisclosed income, finding the explanations provided by the assessee lacking credibility. However, the Tribunal deleted the additions for unexplained cash and withdrawals for personal expenses, providing relief to the assessee. The appeal was partly allowed, with the majority of the Assessing Officer's and Commissioner of Income-tax (Appeals)' orders being upheld. Case-Laws Income Tax Wed, 23 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123035