https://www.taxtmi.com/caselaws?id=342616 The Tribunal upheld the CIT(A)'s decision to treat unexplained deposits in the appellant's bank account as unexplained money under section 69A of the Income Tax Act, 1961 for A.Y. 2009-10. Despite the appellant's claims of business transactions, the Tribunal found insufficient evidence to support this assertion and dismissed the appeal, citing discrepancies in business details and bank account activities. The lack of substantiation regarding the source of deposits led to the affirmation of the initial assessment, emphasizing the importance of providing adequate evidence in tax proceedings. en-us Fri, 05 May 2017 00:00:00 +0530 Tue, 09 May 2017 07:39:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342616 The Tribunal upheld the CIT(A)'s decision to treat unexplained deposits in the appellant's bank account as unexplained money under section 69A of the Income Tax Act, 1961 for A.Y. 2009-10. Despite the appellant's claims of business transactions, the Tribunal found insufficient evidence to support this assertion and dismissed the appeal, citing discrepancies in business details and bank account activities. The lack of substantiation regarding the source of deposits led to the affirmation of the initial assessment, emphasizing the importance of providing adequate evidence in tax proceedings. Case-Laws Income Tax Fri, 05 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342616