https://www.taxtmi.com/caselaws?id=380828 The High Court upheld the decisions of the lower authorities, dismissing the appeals of the appellant-assessee regarding the addition of unexplained cash deposits under Section 69 of the Income Tax Act. The court found the appellant's explanations regarding cash withdrawals for investment and subsequent redeposits unconvincing, emphasizing the lack of substantiated evidence and raising doubts about the legitimacy of the transactions. Despite the appellant's arguments regarding the interpretation of Section 69 in favor of the assessee, the court concluded that no substantial question of law arose, affirming the inclusion of the cash deposits as taxable income. en-us Wed, 13 Feb 2019 00:00:00 +0530 Tue, 28 May 2019 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380828 The High Court upheld the decisions of the lower authorities, dismissing the appeals of the appellant-assessee regarding the addition of unexplained cash deposits under Section 69 of the Income Tax Act. The court found the appellant's explanations regarding cash withdrawals for investment and subsequent redeposits unconvincing, emphasizing the lack of substantiated evidence and raising doubts about the legitimacy of the transactions. Despite the appellant's arguments regarding the interpretation of Section 69 in favor of the assessee, the court concluded that no substantial question of law arose, affirming the inclusion of the cash deposits as taxable income. Case-Laws Income Tax Wed, 13 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380828