https://www.taxtmi.com/caselaws?id=357707 The Tribunal upheld the addition of Rs. 26,25,000 on account of unexplained cash deposits under section 68 of the Income Tax Act. Despite the appellant's claims of using the cash for a property deal, the lack of evidence and discrepancies in withdrawals and deposits led to the conclusion that the cash was unexplained income. The Tribunal emphasized the failure to substantiate the source of the deposits and the lack of correlation between withdrawals and deposits, dismissing the appeal and affirming the addition based on the test of human probabilities. en-us Mon, 26 Mar 2018 00:00:00 +0530 Tue, 27 Mar 2018 21:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357707 The Tribunal upheld the addition of Rs. 26,25,000 on account of unexplained cash deposits under section 68 of the Income Tax Act. Despite the appellant's claims of using the cash for a property deal, the lack of evidence and discrepancies in withdrawals and deposits led to the conclusion that the cash was unexplained income. The Tribunal emphasized the failure to substantiate the source of the deposits and the lack of correlation between withdrawals and deposits, dismissing the appeal and affirming the addition based on the test of human probabilities. Case-Laws Income Tax Mon, 26 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357707