https://www.taxtmi.com/caselaws?id=362495 The appeal challenging the Income Tax Appellate Tribunal's order for Assessment Year 2003-04 regarding unexplained cash credit under Section 68 of the Income Tax Act, 1961 was dismissed. The appellant's explanations regarding delays in transactions and refunds were not accepted, resulting in an addition of Rs. 36.77 lakhs. Despite the Tribunal reducing the addition to Rs. 36.26 lakhs, discrepancies in the appellant's claims and lack of documentary evidence led to the dismissal of the appeal. The court upheld the authorities' findings, deeming the rejection of the appellant's explanation justified based on the evidence presented. en-us Mon, 11 Jun 2018 00:00:00 +0530 Wed, 27 Jun 2018 08:59:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362495 The appeal challenging the Income Tax Appellate Tribunal's order for Assessment Year 2003-04 regarding unexplained cash credit under Section 68 of the Income Tax Act, 1961 was dismissed. The appellant's explanations regarding delays in transactions and refunds were not accepted, resulting in an addition of Rs. 36.77 lakhs. Despite the Tribunal reducing the addition to Rs. 36.26 lakhs, discrepancies in the appellant's claims and lack of documentary evidence led to the dismissal of the appeal. The court upheld the authorities' findings, deeming the rejection of the appellant's explanation justified based on the evidence presented. Case-Laws Income Tax Mon, 11 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362495