https://www.taxtmi.com/caselaws?id=310851 The HC of Punjab and Haryana ruled in favor of the Revenue in Income Tax Appeal Nos. 373 to 375 of 2006, concerning the assessment year 2000-01. The court determined that the assessee failed to satisfactorily explain the source of cash deposits totaling Rs. 36,80,000, claimed to be from land sales. The CIT (A) and Tribunal's deletion of the addition was overturned, as the HC found the initial onus was incorrectly placed on the Revenue. The deposits were deemed undisclosed income, and the appeals were allowed, upholding the assessing officer's addition under Section 68 of the Income-Tax Act. en-us Thu, 02 Dec 2010 00:00:00 +0530 Wed, 22 Nov 2023 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310851 The HC of Punjab and Haryana ruled in favor of the Revenue in Income Tax Appeal Nos. 373 to 375 of 2006, concerning the assessment year 2000-01. The court determined that the assessee failed to satisfactorily explain the source of cash deposits totaling Rs. 36,80,000, claimed to be from land sales. The CIT (A) and Tribunal's deletion of the addition was overturned, as the HC found the initial onus was incorrectly placed on the Revenue. The deposits were deemed undisclosed income, and the appeals were allowed, upholding the assessing officer's addition under Section 68 of the Income-Tax Act. Case-Laws Income Tax Thu, 02 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310851