2025 (5) TMI 1340 - SCH - Income Tax

Unexplained money u/s 69A - deposit made after the demonetization notification on 8th November 2016 - HC 2024 (12) TMI 1346 - ORISSA HIGH COURT held explanation offered by assessee was no explanation at all. Nature or source of acquisition of the money not explained could only invite opinion of the AO of unexplained money. HELD THAT - Having heard the learned counsel appearing for the petitioner and having gone through the materials on record we see no reason to interfere with the impugned order passed by the High Court. Special Leave Petition is accordingly dismissed.

Summary

The Supreme Court, with Justices J. B. Pardiwala and R. Mahadevan presiding, after hearing counsel for the petitioner and reviewing the record, "see no reason to interfere with the impugned order passed by the High Court." The Court "condoned delay" but ultimately dismissed the Special Leave Petition. All pending applications were disposed of.