https://www.taxtmi.com/caselaws?id=775311 The ITAT Kolkata upheld the addition made by the AO on account of unexplained cash deposits in undisclosed bank accounts. The assessee failed to satisfactorily explain the source, identity, and genuineness of the credits despite contradictory statements during investigation and assessment proceedings. The assessee did not disclose the bank accounts in the return of income and failed to provide supporting documents linking the deposits to business transactions. Consequently, the tribunal confirmed the CIT(A)'s order dismissing the assessee's claims, resulting in the addition being sustained against the assessee. en-us Fri, 18 Jul 2025 00:00:00 +0530 Wed, 23 Jul 2025 08:29:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775311 The ITAT Kolkata upheld the addition made by the AO on account of unexplained cash deposits in undisclosed bank accounts. The assessee failed to satisfactorily explain the source, identity, and genuineness of the credits despite contradictory statements during investigation and assessment proceedings. The assessee did not disclose the bank accounts in the return of income and failed to provide supporting documents linking the deposits to business transactions. Consequently, the tribunal confirmed the CIT(A)'s order dismissing the assessee's claims, resulting in the addition being sustained against the assessee. Case-Laws Income Tax Fri, 18 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775311