https://www.taxtmi.com/caselaws?id=3579 The Assessee's appeal under Section 260A of the Income Tax Act for the assessment year 1998-99 was dismissed. The Tribunal upheld the tax authorities' actions, adding Rs.11.82 lacs as unsecured amounts and Rs.5 lacs for canceled bookings. The Tribunal emphasized the lack of creditworthiness proof for cash deposits from various individuals, leading to the dismissal of the Assessee's appeal. The decision highlighted the Assessee's failure to establish the identity of creditors and the source of cash deposits, indicating potential tax evasion. en-us Fri, 04 Apr 2008 00:00:00 +0530 Wed, 10 Feb 2016 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3579 The Assessee's appeal under Section 260A of the Income Tax Act for the assessment year 1998-99 was dismissed. The Tribunal upheld the tax authorities' actions, adding Rs.11.82 lacs as unsecured amounts and Rs.5 lacs for canceled bookings. The Tribunal emphasized the lack of creditworthiness proof for cash deposits from various individuals, leading to the dismissal of the Assessee's appeal. The decision highlighted the Assessee's failure to establish the identity of creditors and the source of cash deposits, indicating potential tax evasion. Case-Laws Income Tax Fri, 04 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3579