https://www.taxtmi.com/caselaws?id=372924 The appeal by the assessee contesting the assessment under section 143(3) of the Income Tax Act, 1961 for the Assessment Year 2008-09 was dismissed. The explanation provided by the assessee regarding cash deposits as an advance against the sale of a residential house was found unsatisfactory due to the lack of registered sale agreement and failure to produce the buyer during assessment proceedings. The tribunal emphasized the importance of presenting credible evidence and following due process, leading to the rejection of the appeal and refusal to remit the matter back to the Assessing Officer for further consideration. en-us Wed, 26 Sep 2018 00:00:00 +0530 Wed, 02 Jan 2019 20:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372924 The appeal by the assessee contesting the assessment under section 143(3) of the Income Tax Act, 1961 for the Assessment Year 2008-09 was dismissed. The explanation provided by the assessee regarding cash deposits as an advance against the sale of a residential house was found unsatisfactory due to the lack of registered sale agreement and failure to produce the buyer during assessment proceedings. The tribunal emphasized the importance of presenting credible evidence and following due process, leading to the rejection of the appeal and refusal to remit the matter back to the Assessing Officer for further consideration. Case-Laws Income Tax Wed, 26 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372924