https://www.taxtmi.com/caselaws?id=278066 The court dismissed the issue regarding the notice under Section 148 as not contested. However, the addition of Rs. 20,01,027 under Section 69 of the Income Tax Act was upheld due to insufficient evidence and explanation provided by the assessee regarding the source of deposits in the bank account. The court emphasized the burden of proof on the assessee to substantiate unexplained investments under Section 69, stressing the need for verifiable evidence and maintaining accurate records. en-us Wed, 31 Oct 2012 00:00:00 +0530 Mon, 07 Jan 2019 15:56:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278066 The court dismissed the issue regarding the notice under Section 148 as not contested. However, the addition of Rs. 20,01,027 under Section 69 of the Income Tax Act was upheld due to insufficient evidence and explanation provided by the assessee regarding the source of deposits in the bank account. The court emphasized the burden of proof on the assessee to substantiate unexplained investments under Section 69, stressing the need for verifiable evidence and maintaining accurate records. Case-Laws Income Tax Wed, 31 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278066