2017 (8) TMI 30

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..... required to be added to the income of the assessee as income from other source. No question of law arises - TAX APPEAL NO. 445 of 2017 - - - Dated:- 4-7-2017 - MR. AKIL KURESHI AND MR. BIREN VAISHNAV For The Appellant : Mr.R.K.Patel For Mr.Darshan R Patel, Advocate ORAL ORDER ( PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. Assessee is in appeal against the judgment of the I .....

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..... e was withdrawn from the bank account and was deposited. In short, the assessee's explanation was that the cash deposit was nothing but the cash withdrawn from the assessee's own account. 3. The Assessing Officer rejected the explanation by giving detailed reasons holding that there was neither any need for withdrawal of the cash amounts looking to the nature of business that assessee w .....

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..... e view of the Assessing Officer. 5. Having heard learned counsel for the assessee and having perused the orders on record, we see no reason to interfere with the concurrent finding of fact by two Revenue authorities and the Tribunal that the assessee failed to explain the source of sizable amount of cash deposits in the bank accounts and therefore, such amount is required to be added to the inc .....

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