https://www.taxtmi.com/caselaws?id=438605 The Tribunal upheld the addition of unexplained cash deposits made by the assessee during the demonetization period under section 69A of the Income Tax Act, 1961. Despite the assessee's explanation of receiving the cash for transferring on behalf of another individual, the Tribunal found the lack of evidence, such as a confirmation letter, to substantiate the claim. As per section 69A, failure to explain the sources of unaccounted money leads to it being treated as income. The appeal was dismissed, affirming the addition of unexplained cash deposits as justified. en-us Thu, 01 Jun 2023 00:00:00 +0530 Mon, 05 Jun 2023 08:32:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438605 The Tribunal upheld the addition of unexplained cash deposits made by the assessee during the demonetization period under section 69A of the Income Tax Act, 1961. Despite the assessee's explanation of receiving the cash for transferring on behalf of another individual, the Tribunal found the lack of evidence, such as a confirmation letter, to substantiate the claim. As per section 69A, failure to explain the sources of unaccounted money leads to it being treated as income. The appeal was dismissed, affirming the addition of unexplained cash deposits as justified. Case-Laws Income Tax Thu, 01 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438605