https://www.taxtmi.com/caselaws?id=759825 Cash deposits made during demonetisation were sustained as unexplained income because the assessee did not prove, with credible evidence, the nature and source of the funds. The record showed that it was registered with AICTE as an unaided private institution, not a Central or State Government college, and its explanation that the notes were received as fees or collected from students for remittance to the university was unsupported. Failure to file a valid return in time, non-compliance with notices, and absence of corroborative material left the burden under section 68 undischarged, so the addition taxed under section 115BBE was upheld. en-us Tue, 01 Oct 2024 00:00:00 +0530 Wed, 09 Oct 2024 08:20:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759825 Cash deposits made during demonetisation were sustained as unexplained income because the assessee did not prove, with credible evidence, the nature and source of the funds. The record showed that it was registered with AICTE as an unaided private institution, not a Central or State Government college, and its explanation that the notes were received as fees or collected from students for remittance to the university was unsupported. Failure to file a valid return in time, non-compliance with notices, and absence of corroborative material left the burden under section 68 undischarged, so the addition taxed under section 115BBE was upheld. Case-Laws Income Tax Tue, 01 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759825