https://www.taxtmi.com/caselaws?id=329927 The Court upheld the Income Tax Appellate Tribunal's decision to sustain an addition of Rs. 16,15,261 under section 69C based on undisclosed bank account deposits, dismissing the appeal and affirming the Tribunal's ruling. The Court found the Tribunal's justification for the addition reasonable, emphasizing the lack of explanation for the source of deposits and withdrawals from the bank account. The Court ruled that no further inquiry was necessary as all relevant facts were already presented before the Tribunal, ultimately affirming the decision to restrict the addition amount. en-us Thu, 16 Jun 2016 00:00:00 +0530 Wed, 13 Jul 2016 12:59:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329927 The Court upheld the Income Tax Appellate Tribunal's decision to sustain an addition of Rs. 16,15,261 under section 69C based on undisclosed bank account deposits, dismissing the appeal and affirming the Tribunal's ruling. The Court found the Tribunal's justification for the addition reasonable, emphasizing the lack of explanation for the source of deposits and withdrawals from the bank account. The Court ruled that no further inquiry was necessary as all relevant facts were already presented before the Tribunal, ultimately affirming the decision to restrict the addition amount. Case-Laws Income Tax Thu, 16 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329927