https://www.taxtmi.com/caselaws?id=427006 The Tribunal dismissed all nine appeals, upholding the findings that the consultancy income claimed was not genuine, and cash deposits during demonetization were unexplained credits taxable under Section 68 and Section 115BBE of the Income-tax Act, 1961. The assessees failed to provide adequate documentation, maintain proper books of accounts, and justify income inconsistencies. Despite non-appearance, the Tribunal ruled in favor of the tax authorities, emphasizing the importance of substantiating claims with credible evidence. en-us Fri, 26 Aug 2022 00:00:00 +0530 Wed, 31 Aug 2022 05:44:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427006 The Tribunal dismissed all nine appeals, upholding the findings that the consultancy income claimed was not genuine, and cash deposits during demonetization were unexplained credits taxable under Section 68 and Section 115BBE of the Income-tax Act, 1961. The assessees failed to provide adequate documentation, maintain proper books of accounts, and justify income inconsistencies. Despite non-appearance, the Tribunal ruled in favor of the tax authorities, emphasizing the importance of substantiating claims with credible evidence. Case-Laws Income Tax Fri, 26 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427006