Section 69 Addition justified if no satisfactory explanation provided

Ashok Kumar Yadav Vs ITO (ITAT Delhi) Ld. Counsel for assessee contended that AO has wrongly made addition of the cash deposit in the bank account u/s 69 of the Act. We do not agree with the contention of the Ld. Counsel for the assessee because assessee made a cash deposit of the impugned amount in his bank account, therefore, burden was upon the assessee to explain the source of the cash deposit in his bank account through evidence. However, assessee has failed to prove the source of the same, therefore, it being unexplained investment was rightly added to the income of the assessee. Ld. Cou...