https://www.taxtmi.com/caselaws?id=419269 The High Court affirmed the additions under Section 68 of the Income Tax Act, ruling in favor of the Department and against the Assessee. The Court found the Assessee's explanation regarding the cash deposit to be unbelievable, with discrepancies in fund utilization indicating the cash belonged to the Assessee, not his daughter. The Court upheld the decisions of lower authorities, emphasizing the need for genuine proof in such cases. The appeal was dismissed, with no costs awarded, and the interim order was vacated. en-us Thu, 03 Mar 2022 00:00:00 +0530 Sat, 05 Mar 2022 21:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419269 The High Court affirmed the additions under Section 68 of the Income Tax Act, ruling in favor of the Department and against the Assessee. The Court found the Assessee's explanation regarding the cash deposit to be unbelievable, with discrepancies in fund utilization indicating the cash belonged to the Assessee, not his daughter. The Court upheld the decisions of lower authorities, emphasizing the need for genuine proof in such cases. The appeal was dismissed, with no costs awarded, and the interim order was vacated. Case-Laws Income Tax Thu, 03 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419269