https://www.taxtmi.com/caselaws?id=353000 The CIT(A) sustained the addition of Rs. 35,80,000 as deemed income of cash deposits in ICICI Bank due to lack of evidence supporting the appellant's explanations. The appellant's contentions regarding deposit sources were found unsupported, leading to the sustained addition by the CIT(A). The case was remanded to the AO for verification of the cash flow statement and withdrawals for construction payments, with instructions to re-examine and decide based on available facts. The appeal was allowed for statistical purposes. en-us Fri, 22 Dec 2017 00:00:00 +0530 Tue, 26 Dec 2017 08:41:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353000 The CIT(A) sustained the addition of Rs. 35,80,000 as deemed income of cash deposits in ICICI Bank due to lack of evidence supporting the appellant's explanations. The appellant's contentions regarding deposit sources were found unsupported, leading to the sustained addition by the CIT(A). The case was remanded to the AO for verification of the cash flow statement and withdrawals for construction payments, with instructions to re-examine and decide based on available facts. The appeal was allowed for statistical purposes. Case-Laws Income Tax Fri, 22 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353000