https://www.taxtmi.com/caselaws?id=417264 The Tribunal upheld the decision to treat cash deposits in the bank account as income from unexplained sources due to the appellant's failure to provide sufficient evidence. The rejection of claimed business losses was affirmed, as the appellant did not substantiate the losses. The application for additional evidence was dismissed for non-compliance. Disallowance of cash in hand and rejection of debit entries in the bank account were upheld due to lack of supporting evidence. The issue of interest under sections 234A & 234B was rejected as consequential. The Tribunal did not address the penalty imposition, deeming it premature, and dismissed the lack of opportunity claim due to the appellant's negligent conduct. The appeal was ultimately dismissed by the Tribunal. en-us Tue, 23 Nov 2021 00:00:00 +0530 Wed, 19 Jan 2022 08:53:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417264 The Tribunal upheld the decision to treat cash deposits in the bank account as income from unexplained sources due to the appellant's failure to provide sufficient evidence. The rejection of claimed business losses was affirmed, as the appellant did not substantiate the losses. The application for additional evidence was dismissed for non-compliance. Disallowance of cash in hand and rejection of debit entries in the bank account were upheld due to lack of supporting evidence. The issue of interest under sections 234A & 234B was rejected as consequential. The Tribunal did not address the penalty imposition, deeming it premature, and dismissed the lack of opportunity claim due to the appellant's negligent conduct. The appeal was ultimately dismissed by the Tribunal. Case-Laws Income Tax Tue, 23 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417264