SANJIV KHANNA, J.

Appellant-Krishan Kumar Sethi has filed the present appeal under Section 260-A of the Income Tax Act, 1961 (‘Act’ for short), which relates to assessment year 2005-06 and impugns the order dated 8.7.2016 passed by the Income Tax Appellate Tribunal (Tribunal).

2. In the return of income filed for the AY 2005-06, the appellant had declared taxable income of Rs.4,05,265/- from the business of sale/purchase/financing of three-wheeler/scooters on commission basis and income earned under the head “income from house property”.

3. The Assessing Officer (‘AO’), vide assessment order dated 28.12.2007, made addition of Rs.36,80,000/- as income from undisclosed sources invoking Section 68 of the Act on account of unexplained cash deposits of Rs.92,80,000/- in the bank accounts of the appellant and his minor sons- Master Sahil Sethi and Sarik Sethi. These deposits were made on different dates and sometimes there were multiple deposits even on a single day. The appellant, on being asked, could not furnish details and explain source of deposits. The AO had made addition of peak cash in hand of Rs.36,80,000/-.

4. The appellant in the appeal, for the first time, took the sta