Held that AO has discovered during the post-search investigation that assessee has made huge cash deposit in his bank account as against meagre salary income. Reassessment is justified. On merit source is not explained hence the addition is affirmed. (AY.2012-13)
Prashant Vithoba Navale v.Dy.CIT (2024) 230 TTJ 341 / 240 DTR 145 / 38 NYPTTJ 664 (Pune) (Trib) Sadashiv Nivruti Navale v. Dy.CIT (2024) 230 TTJ 341 / 240 DTR 145 / 38 NYPTTJ 664 (Pune) (Trib)
S. 147 : Reassessment-Cash deposits-Search-Salary-Investigation-Reassessment is valid-Unexplained cash-Source is not explained-Addition is affirmed. [S.68,69A, 132, 148]