https://www.taxtmi.com/caselaws?id=190248 The Tribunal upheld the addition of Rs. 30,40,620 to the assessee's income for failure to explain cash deposits, applying Sections 68 and 69 of the Income Tax Act. The classification of income from share transactions as business income was confirmed, dismissing the assessee's appeal and rejecting the admission of additional evidence. The Tribunal found the additional evidence lacking credibility and considered the share transactions indicative of trading activity rather than investment, affirming the AO and CIT(A)'s decisions. The order was pronounced on 06/02/2015. en-us Fri, 06 Feb 2015 00:00:00 +0530 Thu, 09 Feb 2017 22:57:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190248 The Tribunal upheld the addition of Rs. 30,40,620 to the assessee's income for failure to explain cash deposits, applying Sections 68 and 69 of the Income Tax Act. The classification of income from share transactions as business income was confirmed, dismissing the assessee's appeal and rejecting the admission of additional evidence. The Tribunal found the additional evidence lacking credibility and considered the share transactions indicative of trading activity rather than investment, affirming the AO and CIT(A)'s decisions. The order was pronounced on 06/02/2015. Case-Laws Income Tax Fri, 06 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190248