https://www.taxtmi.com/caselaws?id=434060 The Tribunal upheld the CIT(A)'s decision to sustain additions of Rs. 46,80,000 as unaccounted income, dismissing the appellant's appeal. Despite the appellant's arguments that the investments were disclosed in audited books and not undisclosed, the Tribunal found the explanations unsatisfactory. The Tribunal noted the appellant's failure to provide necessary details or respond to notices, leading to the affirmation of the CIT(A)'s decision based on lack of evidence regarding the source of funds and identity of allottees. The appeal against the additions was ultimately dismissed. en-us Fri, 10 Feb 2023 00:00:00 +0530 Thu, 16 Feb 2023 08:49:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434060 The Tribunal upheld the CIT(A)'s decision to sustain additions of Rs. 46,80,000 as unaccounted income, dismissing the appellant's appeal. Despite the appellant's arguments that the investments were disclosed in audited books and not undisclosed, the Tribunal found the explanations unsatisfactory. The Tribunal noted the appellant's failure to provide necessary details or respond to notices, leading to the affirmation of the CIT(A)'s decision based on lack of evidence regarding the source of funds and identity of allottees. The appeal against the additions was ultimately dismissed. Case-Laws Income Tax Fri, 10 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434060