https://www.taxtmi.com/caselaws?id=327289 The appeal under Section 260A of the Income Tax Act challenged an order by the ITAT regarding unexplained cash credit of Rs. 13,01,000. The ITAT rejected the Assessee's explanation of cash deposits as inheritance from his deceased mother, citing discrepancies and lack of supporting evidence. Emphasizing the obligation under Section 68 of the Act to provide a satisfactory explanation for credited sums, the ITAT upheld the deletion of the addition made by the AO. The judgment concluded that no substantial question of law arose, affirming the ITAT's decision and imposing costs on the Assessee. en-us Tue, 03 May 2016 00:00:00 +0530 Sat, 07 May 2016 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327289 The appeal under Section 260A of the Income Tax Act challenged an order by the ITAT regarding unexplained cash credit of Rs. 13,01,000. The ITAT rejected the Assessee's explanation of cash deposits as inheritance from his deceased mother, citing discrepancies and lack of supporting evidence. Emphasizing the obligation under Section 68 of the Act to provide a satisfactory explanation for credited sums, the ITAT upheld the deletion of the addition made by the AO. The judgment concluded that no substantial question of law arose, affirming the ITAT's decision and imposing costs on the Assessee. Case-Laws Income Tax Tue, 03 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327289