https://www.taxtmi.com/caselaws?id=437250 Unexplained cash deposit additions required fresh examination where the assessee was not given an effective opportunity to explain the source of funds. The ex parte first appellate order was set aside in substance because notices had not effectively reached the tax representative, the assessee's non-appearance was found bona fide, and the record showed only a limited reply before the Assessing Officer. The matter was restored for de novo adjudication so the assessee could substantiate the cash deposit source on evidence. The addition was therefore not finally sustained at this stage. en-us Wed, 29 Mar 2023 00:00:00 +0530 Mon, 01 May 2023 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437250 Unexplained cash deposit additions required fresh examination where the assessee was not given an effective opportunity to explain the source of funds. The ex parte first appellate order was set aside in substance because notices had not effectively reached the tax representative, the assessee's non-appearance was found bona fide, and the record showed only a limited reply before the Assessing Officer. The matter was restored for de novo adjudication so the assessee could substantiate the cash deposit source on evidence. The addition was therefore not finally sustained at this stage. Case-Laws Income Tax Wed, 29 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437250