https://www.taxtmi.com/caselaws?id=277116 The Tribunal upheld the addition of cash deposits under Sec.69 of the Income Tax Act, 1961, due to unexplained deposits in the appellant's bank account. Despite the appellant's argument that Sec.69 did not apply as no books of accounts were maintained, the Tribunal emphasized the lack of cooperation and satisfactory explanations, leading to the deemed income addition. The appellant's alternative explanation regarding the source of cash deposits was deemed lacking credibility, resulting in the dismissal of the appeal and confirmation of the addition of &8377; 15,47,000/- to the appellant's income. en-us Tue, 31 Oct 2017 00:00:00 +0530 Mon, 26 Nov 2018 07:54:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277116 The Tribunal upheld the addition of cash deposits under Sec.69 of the Income Tax Act, 1961, due to unexplained deposits in the appellant's bank account. Despite the appellant's argument that Sec.69 did not apply as no books of accounts were maintained, the Tribunal emphasized the lack of cooperation and satisfactory explanations, leading to the deemed income addition. The appellant's alternative explanation regarding the source of cash deposits was deemed lacking credibility, resulting in the dismissal of the appeal and confirmation of the addition of &8377; 15,47,000/- to the appellant's income. Case-Laws Income Tax Tue, 31 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277116