|The Tax Publishers2021 TaxPub(DT) 0863 (Del-Trib)
INCOME TAX ACT, 1961
Where assessee was specifically required to explain the amount deposited in the bank account but he did not furnish any corroborative evidences regarding these deposits, addition made of same as unexplained deposit in bank account could not be held unjustified.
Income from undisclosed sources - Addition under section 69 - Unexplained deposits in bank account - No corroborative evidences
Assessee made cash deposits in his bank account. AO made addition of same as unexplained deposits in bank account on the ground that the cash flow submitted by the assessee did not explain the said bank deposits.Held: The assessee could not explain the source of deposits by co-relating the same to the advances received on various dates. The rejoinder of the assessee was also vague and did not throw any light on the issue. All the same, looking into the facts of the case and in view of the interest of substantial justice, it was fit to restore this appeal with a direction to the assessee to substantiate the impugned amount with documentary evidences.
FAVOUR : Matter remanded
A.Y. : 2009-10
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