https://www.taxtmi.com/caselaws?id=70537 The ITAT ruled in favor of the assessee, allowing the exclusion of the full addition of deposits in various banks as undisclosed income. The source of a significant portion of the deposit was explained from a matured fixed deposit, leaving a balance that could have been sourced from current resources. Additionally, deposits made in the name of the assessee's wife were not considered undisclosed income as there were no deposits in the relevant accounting period, only accretion of interest. The inclusion of interest received by the assessee's wife from various banks was also deemed unjustified and was excluded from the assessment. en-us Wed, 04 Oct 1978 00:00:00 +0530 Sat, 16 Apr 2011 16:21:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70537 The ITAT ruled in favor of the assessee, allowing the exclusion of the full addition of deposits in various banks as undisclosed income. The source of a significant portion of the deposit was explained from a matured fixed deposit, leaving a balance that could have been sourced from current resources. Additionally, deposits made in the name of the assessee's wife were not considered undisclosed income as there were no deposits in the relevant accounting period, only accretion of interest. The inclusion of interest received by the assessee's wife from various banks was also deemed unjustified and was excluded from the assessment. Case-Laws Income Tax Wed, 04 Oct 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70537