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2018 (5) TMI 707 - AT - Income TaxUnexplained money deposited in the bank account - assessee has opened a bank account with the professional who was authorised representative of the assessee - absence of source of the cash deposited in this bank account - Assessee did not produce any supporting evidence to substantiate his claim - Held that:- When first account holder is authorised representative of the assessee would clearly support the findings of the authorities below that it was an unaccounted bank account maintained by the assessee with his Authorised Representative and in the absence of any explanation of source of the cash deposited in the bank account, no interference is called for in the matter. There is no reason why a professional will provide his own money and operate bank account with the assessee. If there was money of Shri Mahesh Sharma, he could have given confirmation or would have appear before A.O. for recording his statement. However, he did not support the case of the assessee and did not appear before A.O. for recording his statement. The explanation of assessee is clearly an afterthought.- Decided against assessee.
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