Assessee fails to explain source of such Cash Deposits- Section 68 Additions justified

Manish Kumar Mukim Vs ITO (ITAT Jaipur)

The issue under consideration is whether the addition made u/s 68 by treating the cash deposit in the bank account as unexplained income is justified in law?

ITAT states that the assessee has to prima facie prove the identity of the creditor/subscriber, the genuineness of the transaction, namely, whether it has been transmitted through banking or other indisputable channels, the creditworthiness or financial strength of the creditor/

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