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2016 (9) TMI 903 - AT - Income TaxUnexplained deposits in the bank account - Unexplained income of the assessee - whether the assessee is not a dealer in nuts and bolts ? - Held that:- CIT(A) correctly observed that there is no evidence to prove that assessee was engaged in business of purchase and sale of nuts and bolts whereas there were sufficient deposits in the bank account. Since assessee could not prove the source of this amount the Assessing Officer was justified in making the addition. Thus, he confirmed the action of the Assessing Officer. - Decided against assessee
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