https://www.taxtmi.com/caselaws?id=357827 The High Court upheld the addition of cash deposits as income under Sec. 69 of the Income Tax Act for the assessment year 2005-2006. The appellants' argument that Sec. 69 only applies when books of account are maintained was dismissed, emphasizing that Sec. 69 deals with unexplained investments. As the appellants failed to provide satisfactory explanations for the cash deposits and did not previously raise the issue of not maintaining books of account, the appeals were dismissed without costs. en-us Fri, 23 Mar 2018 00:00:00 +0530 Fri, 30 Mar 2018 08:20:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357827 The High Court upheld the addition of cash deposits as income under Sec. 69 of the Income Tax Act for the assessment year 2005-2006. The appellants' argument that Sec. 69 only applies when books of account are maintained was dismissed, emphasizing that Sec. 69 deals with unexplained investments. As the appellants failed to provide satisfactory explanations for the cash deposits and did not previously raise the issue of not maintaining books of account, the appeals were dismissed without costs. Case-Laws Income Tax Fri, 23 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357827