Unexplained cash deposits treated as explained where tuition income, marriage gifts and opening cash balance covered the deposits.

Cash deposits were explained as tuition income from the current and earlier years, marriage gifts, and opening cash balance, supported by accounts and an affidavit. On that factual basis, the available cash was accepted as sufficient to cover the deposits, so the addition as unexplained money under section 69A was not warranted.

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Issues: Whether the addition of cash deposits as unexplained money under section 69A of the Income-tax Act, 1961 was sustainable.

Analysis: The assessee explained that the cash deposits represented tuition income earned during the year and earlier years, marriage gifts, and available opening cash balance. The explanation was supported by accounts and an affidavit. In view of the opening cash balance, the tuition income, and the marriage gifts, the cash availability was accepted as sufficient to cover the deposits.

Conclusion: The addition under section 69A was held to be not warranted.

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