https://www.taxtmi.com/caselaws?id=387174 The ITAT upheld the decisions of the Ld. CIT(A) confirming the assessment proceedings under section 144 r.w.s. 147 of the Income Tax Act, 1961, due to the appellant's failure to disclose cash deposits and provide complete information. Additionally, the ITAT sustained the addition of Rs. 10,84,100/- under section 68 of the Act, as the appellant could not prove the creditworthiness and genuineness of cash loans obtained from 58 individuals. The appeal was dismissed, emphasizing the appellant's inability to adequately explain the cash deposits, leading to the affirmation of the assessment proceedings and the addition under section 68. en-us Wed, 04 Sep 2019 00:00:00 +0530 Fri, 18 Oct 2019 07:47:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387174 The ITAT upheld the decisions of the Ld. CIT(A) confirming the assessment proceedings under section 144 r.w.s. 147 of the Income Tax Act, 1961, due to the appellant's failure to disclose cash deposits and provide complete information. Additionally, the ITAT sustained the addition of Rs. 10,84,100/- under section 68 of the Act, as the appellant could not prove the creditworthiness and genuineness of cash loans obtained from 58 individuals. The appeal was dismissed, emphasizing the appellant's inability to adequately explain the cash deposits, leading to the affirmation of the assessment proceedings and the addition under section 68. Case-Laws Income Tax Wed, 04 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387174