Additions made u/s 69A were justified as assessee made a bold statement without producing any supporting evidences

INCOME TAX : Where assessee contended that out of total cash credit in its bank account certain sum was introduced as capital which could not be taxed and certain sum was re-deposited in cash out of his own cash withdrawals from another bank account and certain sum was in respect of sales booked in advance for subsequent assessment year, since assessee had not supported his submissions by filing any material evidences, impugned addition made on account of such entire amount credited in its bank

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