AO justified in making addition for unexplained amount deposited in bank

George Alexander Vs ACIT (ITAT Cochin)

 The Assessing Officer in para 6 of the assessment order had catalogued the unexplained deposits in various bank accounts. While working out the unexplained deposits in the bank accounts of the assessee, the Assessing Officer had given due credit to the income declared by the assessee in the return of income filed. The Assessing Officer has also given credit to the deposits not representing income such as loan from Canfin, LIC maturity amount etc. The unexplained credit

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