https://www.taxtmi.com/caselaws?id=444440 The ITAT Agra dismissed the assessee's appeal, upholding the ld. CIT (A)'s decision. The tribunal agreed with the findings that the reopening of proceedings under section 147 was valid, as the AO had sufficient material to suspect income escapement. Additionally, the ITAT concurred with the treatment of Rs. 16,70,320 as unexplained money under section 69A, due to inadequate evidence of business activities or agricultural income. Consequently, the addition of the amount as unexplained cash deposits was upheld, and the appeal was dismissed in full. en-us Fri, 13 Oct 2023 00:00:00 +0530 Mon, 16 Oct 2023 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444440 The ITAT Agra dismissed the assessee's appeal, upholding the ld. CIT (A)'s decision. The tribunal agreed with the findings that the reopening of proceedings under section 147 was valid, as the AO had sufficient material to suspect income escapement. Additionally, the ITAT concurred with the treatment of Rs. 16,70,320 as unexplained money under section 69A, due to inadequate evidence of business activities or agricultural income. Consequently, the addition of the amount as unexplained cash deposits was upheld, and the appeal was dismissed in full. Case-Laws Income Tax Fri, 13 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444440