https://www.taxtmi.com/caselaws?id=340457 The Tribunal dismissed the appeals of both assessees, upholding the treatment of cash deposits in ICICI Bank and Axis Bank as undisclosed income. The Tribunal found the business claims unsubstantiated, emphasizing the lack of credible evidence and implausibility of the narrative. The retraction affidavit was deemed an afterthought, lacking support and credibility. Overall, the assessees failed to prove the source of cash deposits, leading to the dismissal of their appeals. en-us Fri, 17 Mar 2017 00:00:00 +0530 Wed, 22 Mar 2017 08:11:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340457 The Tribunal dismissed the appeals of both assessees, upholding the treatment of cash deposits in ICICI Bank and Axis Bank as undisclosed income. The Tribunal found the business claims unsubstantiated, emphasizing the lack of credible evidence and implausibility of the narrative. The retraction affidavit was deemed an afterthought, lacking support and credibility. Overall, the assessees failed to prove the source of cash deposits, leading to the dismissal of their appeals. Case-Laws Income Tax Fri, 17 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340457