https://www.taxtmi.com/caselaws?id=401278 The tribunal upheld the AO's additions to the assessee's income based on unexplained cash deposits in bank accounts for assessment years 2006-07 and 2008-09. The CIT(A) rejected the cash flow statements, emphasizing the need for timely submission of evidence. The invocation of Section 153C was crucial, requiring a prima facie connection between seized material and the taxpayer's income. The case highlighted the significance of complying with legal procedures and providing adequate evidence. The matter was remanded to the AO for fresh consideration, underscoring the complexity of tax assessments and evidentiary requirements. en-us Thu, 26 Nov 2020 00:00:00 +0530 Thu, 03 Dec 2020 11:51:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401278 The tribunal upheld the AO's additions to the assessee's income based on unexplained cash deposits in bank accounts for assessment years 2006-07 and 2008-09. The CIT(A) rejected the cash flow statements, emphasizing the need for timely submission of evidence. The invocation of Section 153C was crucial, requiring a prima facie connection between seized material and the taxpayer's income. The case highlighted the significance of complying with legal procedures and providing adequate evidence. The matter was remanded to the AO for fresh consideration, underscoring the complexity of tax assessments and evidentiary requirements. Case-Laws Income Tax Thu, 26 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401278