https://www.taxtmi.com/caselaws?id=344379 The appeal was dismissed as the assessee failed to provide substantial and credible evidence to explain a cash deposit in a bank account. The Assessing Officer and the CIT(A) found the explanations vague and lacking independent evidence, with withdrawals not correlating with the deposit. The lack of supporting documents, non-cooperative behavior during assessment, and absence of verifiable evidence led to the rejection of the appeal. The judgment emphasized the importance of providing concrete evidence and transparency in tax proceedings to substantiate financial transactions and income sources. en-us Fri, 09 Jun 2017 00:00:00 +0530 Fri, 16 Jun 2017 09:03:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344379 The appeal was dismissed as the assessee failed to provide substantial and credible evidence to explain a cash deposit in a bank account. The Assessing Officer and the CIT(A) found the explanations vague and lacking independent evidence, with withdrawals not correlating with the deposit. The lack of supporting documents, non-cooperative behavior during assessment, and absence of verifiable evidence led to the rejection of the appeal. The judgment emphasized the importance of providing concrete evidence and transparency in tax proceedings to substantiate financial transactions and income sources. Case-Laws Income Tax Fri, 09 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344379