AO Adds Rs. 5.38 Lakh as Unexplained Cash Deposit: ITAT Confirms Rs. 48,000 Addition as Taxpayer Fails to Prove Source [Read Order]

The Tribunal confirmed an addition of Rs. 48,000, citing the assessee’s inability to furnish sufficient evidence for the amount.
By Franklin Joshva - On April 9, 2025 4:45 pm - 2 mins read
Unexplained cash deposit - ITAT Hyderabad - AO cash - Taxscan

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) confirmed Rs. 48,000 as assessee failed to prove source of deposits in the case where the Assessing Officer (AO) had made an addition of Rs. 5.38 lakh as unexplained cash deposits. Shri Balineni Kishore Babu (the assessee), a Chartered Accountant by profession, had filed his…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader