https://www.taxtmi.com/caselaws?id=403580 The Tribunal upheld the addition of Rs. 15 lakhs as unexplained income under sections 69A and 115BBE of the IT Act for AY 2017-18. Despite the appellant's claims of it being life savings and part of earlier cash withdrawals, the explanation was deemed improbable. The CIT(A) supported this decision, finding the appellant's arguments unconvincing, especially regarding a matrimonial dispute and cash withdrawals. The Tribunal concluded that the appellant failed to substantiate the source of the cash deposit during demonetization, leading to the dismissal of the appeal and affirming the addition to income. en-us Mon, 01 Feb 2021 00:00:00 +0530 Tue, 02 Feb 2021 15:05:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403580 The Tribunal upheld the addition of Rs. 15 lakhs as unexplained income under sections 69A and 115BBE of the IT Act for AY 2017-18. Despite the appellant's claims of it being life savings and part of earlier cash withdrawals, the explanation was deemed improbable. The CIT(A) supported this decision, finding the appellant's arguments unconvincing, especially regarding a matrimonial dispute and cash withdrawals. The Tribunal concluded that the appellant failed to substantiate the source of the cash deposit during demonetization, leading to the dismissal of the appeal and affirming the addition to income. Case-Laws Income Tax Mon, 01 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403580