https://www.taxtmi.com/caselaws?id=258954 Bank deposits detected during search that were not satisfactorily explained were treated as unexplained income under section 69. The Court held that, where the assessee failed to produce supporting final accounts or other primary evidence to substantiate the claimed cash source, the unproved explanation could not override the search material. It further held that the Assessing Officer was not required to make further independent enquiry in the face of the assessee's failure to discharge the burden of proof, and an adverse inference was justified for withholding the best evidence under section 114(g) of the Evidence Act. en-us Wed, 01 Apr 2015 00:00:00 +0530 Thu, 23 Apr 2015 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258954 Bank deposits detected during search that were not satisfactorily explained were treated as unexplained income under section 69. The Court held that, where the assessee failed to produce supporting final accounts or other primary evidence to substantiate the claimed cash source, the unproved explanation could not override the search material. It further held that the Assessing Officer was not required to make further independent enquiry in the face of the assessee's failure to discharge the burden of proof, and an adverse inference was justified for withholding the best evidence under section 114(g) of the Evidence Act. Case-Laws Income Tax Wed, 01 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258954