https://www.taxtmi.com/caselaws?id=409125 The ITAT dismissed the appeal challenging additions and disallowances made under sections 143(3)/147 of the Income Tax Act, upholding the A.O.'s actions regarding unexplained cash deposits in the bank account. The ITAT found the assessee's arguments regarding deposits made by a friend unsubstantiated, as the friend's response contradicted the provided affidavit and lacked independent evidence. Despite efforts to summon the friend for evidence, no cooperation was received. The ITAT upheld the decision, as the assessee failed to prove the source of funds adequately, leading to the dismissal of the appeal. en-us Tue, 22 Jun 2021 00:00:00 +0530 Wed, 30 Jun 2021 08:21:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409125 The ITAT dismissed the appeal challenging additions and disallowances made under sections 143(3)/147 of the Income Tax Act, upholding the A.O.'s actions regarding unexplained cash deposits in the bank account. The ITAT found the assessee's arguments regarding deposits made by a friend unsubstantiated, as the friend's response contradicted the provided affidavit and lacked independent evidence. Despite efforts to summon the friend for evidence, no cooperation was received. The ITAT upheld the decision, as the assessee failed to prove the source of funds adequately, leading to the dismissal of the appeal. Case-Laws Income Tax Tue, 22 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409125