https://www.taxtmi.com/caselaws?id=469730 ITAT Visakhapatnam upheld the addition of cash deposits as unexplained under section 69A because the assessee produced no credible documentary support for the stated sources, and the deposits were not accepted as business turnover. However, it accepted the assessee's challenge to the enhanced tax rate under section 115BBE, holding that the amended 60% rate operated prospectively from 01.04.2017 and could not be applied to prior assessment years. The assessee therefore obtained partial relief, but the substantive addition was sustained. en-us Fri, 07 Mar 2025 00:00:00 +0530 Wed, 01 Jul 2026 20:42:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469730 ITAT Visakhapatnam upheld the addition of cash deposits as unexplained under section 69A because the assessee produced no credible documentary support for the stated sources, and the deposits were not accepted as business turnover. However, it accepted the assessee's challenge to the enhanced tax rate under section 115BBE, holding that the amended 60% rate operated prospectively from 01.04.2017 and could not be applied to prior assessment years. The assessee therefore obtained partial relief, but the substantive addition was sustained. Case-Laws Income Tax Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469730