https://www.taxtmi.com/caselaws?id=772845 The ITAT Agra upheld the CIT(Appeals) decision rejecting the assessee's unexplained investment claims under Section 69A during demonetization. The assessee took contradictory stands regarding deposited amounts, first claiming marriage gifts from 2008, then asserting shoe business income. The tribunal found the assessee's explanations artificial and inconsistent, lacking cogent reasoning for the change in position. The appeal was decided in favor of Revenue, confirming the addition of unexplained deposits as income. en-us Tue, 29 Apr 2025 00:00:00 +0530 Sat, 14 Jun 2025 06:47:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772845 The ITAT Agra upheld the CIT(Appeals) decision rejecting the assessee's unexplained investment claims under Section 69A during demonetization. The assessee took contradictory stands regarding deposited amounts, first claiming marriage gifts from 2008, then asserting shoe business income. The tribunal found the assessee's explanations artificial and inconsistent, lacking cogent reasoning for the change in position. The appeal was decided in favor of Revenue, confirming the addition of unexplained deposits as income. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772845