https://www.taxtmi.com/caselaws?id=441940 Cash deposits in bank accounts were treated as unexplained income where verification of the alleged payer denied the payments and independent inquiry showed the supporting bills and confirmations to be non-genuine; the plea to restrict the addition to peak credit or net profit was rejected. A claimed agriculture receipt was also disallowed for want of credible proof of genuine agricultural activity, and the cross-examination objection failed because no timely request was made and the adverse material had already been confronted during assessment. The additions were sustained. en-us Thu, 17 Aug 2023 00:00:00 +0530 Mon, 21 Aug 2023 08:30:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441940 Cash deposits in bank accounts were treated as unexplained income where verification of the alleged payer denied the payments and independent inquiry showed the supporting bills and confirmations to be non-genuine; the plea to restrict the addition to peak credit or net profit was rejected. A claimed agriculture receipt was also disallowed for want of credible proof of genuine agricultural activity, and the cross-examination objection failed because no timely request was made and the adverse material had already been confronted during assessment. The additions were sustained. Case-Laws Income Tax Thu, 17 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441940