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HomeDirect TaxUnexplained Cash Deposits: ITAT Upholds Addition After Assessee Fails to Prove Source

Unexplained Cash Deposits: ITAT Upholds Addition After Assessee Fails to Prove Source

Direct Tax

Published on

By Mariya Paliwala
Unexplained Cash Deposits: ITAT Upholds Addition After Assessee Fails to Prove Source

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The Income Tax Appellate Tribunal (ITAT), Delhi Bench has upheld an addition of Rs. 61.70 lakh made by the Assessing Officer on account of unexplained cash deposits in a bank account, observing that the assessee failed to provide credible evidence regarding the source of the funds and offered contradictory explanations during the proceedings. The bench…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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