https://www.taxtmi.com/caselaws?id=776478 The ITAT Mumbai upheld the addition of unexplained cash deposits totaling Rs. 9 lakh made during the demonetization period to the assessee's income under section 69A. The assessee failed to provide satisfactory evidence to substantiate the source of these deposits, which were claimed to be business receipts or accumulated earnings. The pattern of deposits, consistently just below Rs. 50,000 across multiple accounts, undermined the assessee's explanation. The assessee had not filed returns for relevant assessment years, further weakening the claim. The tribunal affirmed that in absence of credible documentation, the cash deposits could not be treated as legitimate income, and the addition to income was justified. en-us Mon, 06 Jan 2025 00:00:00 +0530 Tue, 12 Aug 2025 08:32:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776478 The ITAT Mumbai upheld the addition of unexplained cash deposits totaling Rs. 9 lakh made during the demonetization period to the assessee's income under section 69A. The assessee failed to provide satisfactory evidence to substantiate the source of these deposits, which were claimed to be business receipts or accumulated earnings. The pattern of deposits, consistently just below Rs. 50,000 across multiple accounts, undermined the assessee's explanation. The assessee had not filed returns for relevant assessment years, further weakening the claim. The tribunal affirmed that in absence of credible documentation, the cash deposits could not be treated as legitimate income, and the addition to income was justified. Case-Laws Income Tax Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776478