https://www.taxtmi.com/caselaws?id=356102 The ITAT upheld the addition of Rs. 30,83,400 as unexplained income under section 69 of the Income Tax Act for the assessment year 2009-10. The appellant's explanations regarding the cash deposits being gifts received during his marriage were deemed inadequate due to lack of supporting evidence such as filing a wealth tax return. Additionally, the ITAT added the remaining cash balance of Rs. 10,38,000 as unexplained income, rejecting the appellant's argument on the opening cash balance. The appeal was dismissed based on the lack of substantiated explanations and failure to provide necessary details. en-us Tue, 20 Feb 2018 00:00:00 +0530 Sat, 24 Feb 2018 08:23:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356102 The ITAT upheld the addition of Rs. 30,83,400 as unexplained income under section 69 of the Income Tax Act for the assessment year 2009-10. The appellant's explanations regarding the cash deposits being gifts received during his marriage were deemed inadequate due to lack of supporting evidence such as filing a wealth tax return. Additionally, the ITAT added the remaining cash balance of Rs. 10,38,000 as unexplained income, rejecting the appellant's argument on the opening cash balance. The appeal was dismissed based on the lack of substantiated explanations and failure to provide necessary details. Case-Laws Income Tax Tue, 20 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356102