No Proof, No Relief – Cash Deposits Unexplained: ITAT Upholds Addition

Sucram Pharmaceuticals Private Limited Vs ITO (ITAT Chennai) No Proof, No Relief -Debtors Deny, Scrap Sale Unsupported- Unsubstantiated Cash Deposits Bite Back ITAT Chennai Sustains Additions as Unexplained Money Chennai ITAT upheld additions made u/s 69 treating certain cash deposits as unexplained.  Assessee had claimed that cash deposits of ₹23.57 lakh were recoveries from sundry debtors &  ₹1.15 lakh represented proceeds from scrap sales. AO observed that while Assessee furnished a list of debtors, it failed to provide their PAN details or confirmations. Notices issued u/s 133(6)...