https://www.taxtmi.com/caselaws?id=187548 The appellate tribunal confirmed the addition of Rs. 3,39,000 as income from undisclosed sources under the IT Act, with Rs. 2,30,000 acknowledged as available cash and the remaining Rs. 1,39,000 upheld. Cash withdrawals and deposits for friendly advances were disapproved due to lack of evidence. The addition on account of bank deposits, despite tax payment claims, was upheld for insufficient evidence. Allegations of illegal action by the Assessing Officer were dismissed. The case underscores the need for documentation and evidence to substantiate financial transactions to avoid income additions from unexplained sources. en-us Tue, 31 May 2011 00:00:00 +0530 Wed, 26 Oct 2016 12:37:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187548 The appellate tribunal confirmed the addition of Rs. 3,39,000 as income from undisclosed sources under the IT Act, with Rs. 2,30,000 acknowledged as available cash and the remaining Rs. 1,39,000 upheld. Cash withdrawals and deposits for friendly advances were disapproved due to lack of evidence. The addition on account of bank deposits, despite tax payment claims, was upheld for insufficient evidence. Allegations of illegal action by the Assessing Officer were dismissed. The case underscores the need for documentation and evidence to substantiate financial transactions to avoid income additions from unexplained sources. Case-Laws Income Tax Tue, 31 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187548