https://www.taxtmi.com/caselaws?id=427871 The Tribunal upheld the Principal Commissioner of Income Tax's decision to treat undisclosed cash deposits as unexplained investment under section 69 of the Income Tax Act. The Tribunal found discrepancies in the treatment of the deposits and agreed with taxing them at 30% under section 115BBE. The assessee's changing statements and inconsistencies led to the revision under section 263, resulting in the dismissal of the appeal and affirmation of the tax treatment on the cash deposits. en-us Fri, 19 Aug 2022 00:00:00 +0530 Sun, 18 Sep 2022 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427871 The Tribunal upheld the Principal Commissioner of Income Tax's decision to treat undisclosed cash deposits as unexplained investment under section 69 of the Income Tax Act. The Tribunal found discrepancies in the treatment of the deposits and agreed with taxing them at 30% under section 115BBE. The assessee's changing statements and inconsistencies led to the revision under section 263, resulting in the dismissal of the appeal and affirmation of the tax treatment on the cash deposits. Case-Laws Income Tax Fri, 19 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427871