https://www.taxtmi.com/caselaws?id=365593 The High Court upheld the addition of Rs. 27,33,333/- on account of unexplained cash deposits in a joint bank account, dismissing the appellant's appeal. The Court found the appellant's explanation regarding the source of cash deposits to be unconvincing and lacking supporting evidence. The application of Section 69/69A of the Income Tax Act, 1961 was deemed appropriate, as the appellant failed to substantiate that the withdrawn cash was used for construction purposes. The Court agreed with the Tribunal's decision, stating that the appellant's evidence was unreliable and insufficient to challenge the addition. en-us Wed, 08 Aug 2018 00:00:00 +0530 Tue, 11 Sep 2018 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365593 The High Court upheld the addition of Rs. 27,33,333/- on account of unexplained cash deposits in a joint bank account, dismissing the appellant's appeal. The Court found the appellant's explanation regarding the source of cash deposits to be unconvincing and lacking supporting evidence. The application of Section 69/69A of the Income Tax Act, 1961 was deemed appropriate, as the appellant failed to substantiate that the withdrawn cash was used for construction purposes. The Court agreed with the Tribunal's decision, stating that the appellant's evidence was unreliable and insufficient to challenge the addition. Case-Laws Income Tax Wed, 08 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365593