https://www.taxtmi.com/caselaws?id=439357 The Appellate Tribunal upheld the Assessing Officer's addition of undisclosed income of Rs. 78,74,870 based on unexplained cash deposits in the bank account and estimated business income of Rs. 7,50,000. Deductions under sections 80C & 80D were disallowed due to lack of proper documentation. The Tribunal affirmed the CIT (A)'s decision to delete the ad hoc addition, emphasizing the significance of cooperation and evidence in tax assessments. The appeal was dismissed, reinforcing the need for taxpayers to provide necessary documentation to prevent adverse inferences and income additions. en-us Tue, 20 Jun 2023 00:00:00 +0530 Thu, 22 Jun 2023 09:07:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439357 The Appellate Tribunal upheld the Assessing Officer's addition of undisclosed income of Rs. 78,74,870 based on unexplained cash deposits in the bank account and estimated business income of Rs. 7,50,000. Deductions under sections 80C & 80D were disallowed due to lack of proper documentation. The Tribunal affirmed the CIT (A)'s decision to delete the ad hoc addition, emphasizing the significance of cooperation and evidence in tax assessments. The appeal was dismissed, reinforcing the need for taxpayers to provide necessary documentation to prevent adverse inferences and income additions. Case-Laws Income Tax Tue, 20 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439357