https://www.taxtmi.com/caselaws?id=259705 The Tribunal upheld the addition of Rs. 10 lakhs as unexplained deposits, rejecting the assessee's claims regarding the nature of the amounts received. It emphasized the necessity for the assessee to establish the identity, capacity, and genuineness of the creditors, which the assessee failed to do. Additionally, the Tribunal declined to admit an additional ground challenging the validity of the assessment under Section 153C in the second round of appeal, citing the limited scope of issues that could be raised at that stage. en-us Thu, 16 Apr 2015 00:00:00 +0530 Tue, 19 May 2015 00:10:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259705 The Tribunal upheld the addition of Rs. 10 lakhs as unexplained deposits, rejecting the assessee's claims regarding the nature of the amounts received. It emphasized the necessity for the assessee to establish the identity, capacity, and genuineness of the creditors, which the assessee failed to do. Additionally, the Tribunal declined to admit an additional ground challenging the validity of the assessment under Section 153C in the second round of appeal, citing the limited scope of issues that could be raised at that stage. Case-Laws Income Tax Thu, 16 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259705