https://www.taxtmi.com/caselaws?id=772588 The ITAT Ahmedabad upheld the AO's addition of unexplained cash deposits in the assessee's bank account. The assessee claimed deposits were sale proceeds from father's property but failed to provide documentary evidence or explain 18 separate cash deposits made over four months. The ITAT confirmed the addition due to lack of cogent explanation. Regarding reopening under Section 147, the ITAT held the AO properly recorded reasons based on information about cash deposits and assessee's failure to file returns or respond to queries. The court ruled that only existence, not adequacy, of material is required for reopening assessment. The appeal was dismissed. en-us Thu, 27 Mar 2025 00:00:00 +0530 Wed, 11 Jun 2025 08:36:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772588 The ITAT Ahmedabad upheld the AO's addition of unexplained cash deposits in the assessee's bank account. The assessee claimed deposits were sale proceeds from father's property but failed to provide documentary evidence or explain 18 separate cash deposits made over four months. The ITAT confirmed the addition due to lack of cogent explanation. Regarding reopening under Section 147, the ITAT held the AO properly recorded reasons based on information about cash deposits and assessee's failure to file returns or respond to queries. The court ruled that only existence, not adequacy, of material is required for reopening assessment. The appeal was dismissed. Case-Laws Income Tax Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772588