https://www.taxtmi.com/caselaws?id=429230 The ITAT upheld the addition of Rs.55,58,000 as unexplained income under sec.69A due to unexplained cash deposits by the assessee. Despite the re-characterization of cash deposits as unexplained cash credit u/s.68 being deemed incorrect without maintaining books of account, the ITAT affirmed the addition under sec.69A. The assessee's failure to substantiate the source of cash deposits, claimed to be from land sale transactions, led to the affirmation of the addition by the ITAT, emphasizing the applicability of sec.69A in such cases. en-us Mon, 17 Oct 2022 00:00:00 +0530 Thu, 20 Oct 2022 09:32:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429230 The ITAT upheld the addition of Rs.55,58,000 as unexplained income under sec.69A due to unexplained cash deposits by the assessee. Despite the re-characterization of cash deposits as unexplained cash credit u/s.68 being deemed incorrect without maintaining books of account, the ITAT affirmed the addition under sec.69A. The assessee's failure to substantiate the source of cash deposits, claimed to be from land sale transactions, led to the affirmation of the addition by the ITAT, emphasizing the applicability of sec.69A in such cases. Case-Laws Income Tax Mon, 17 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429230