Addition u/s 69 sustained on failure to furnish explanation regarding cash deposited in bank accounts

Indra Sharma Vs ITO (ITAT Delhi)

ITAT Delhi held that addition under section 69 of the Income Tax Act on account of cash deposited in bank accounts sustained as the assessee failed to give any explanation regarding such cash found to be credited in the bank accounts.

Facts- The assessee filed return for the Assessment Year 2014-15 at an income of Rs. 5,45,930/-, the assessment was completed u/s 144 of the act on 29/11/2016 by making addition of Rs. 69,67,000/- u/s 69 of th

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