https://www.taxtmi.com/caselaws?id=241741 The Tribunal partially allowed the appeal, sustaining the addition of Rs.89,640 as unexplained cash deposit under 'Income from Other Sources' for the assessment year 2006-2007. It reasoned that the assessee's agricultural income for the year supported the source of the cash deposits, emphasizing the permissibility of holding cash and not mandating its full deposit in the bank. By relying on circumstantial evidence and estimating a reasonable opening cash in hand, the Tribunal reduced the addition from the original amount, ultimately confirming the addition of Rs.89,640. en-us Fri, 08 Feb 2013 00:00:00 +0530 Tue, 31 Dec 2013 10:12:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241741 The Tribunal partially allowed the appeal, sustaining the addition of Rs.89,640 as unexplained cash deposit under 'Income from Other Sources' for the assessment year 2006-2007. It reasoned that the assessee's agricultural income for the year supported the source of the cash deposits, emphasizing the permissibility of holding cash and not mandating its full deposit in the bank. By relying on circumstantial evidence and estimating a reasonable opening cash in hand, the Tribunal reduced the addition from the original amount, ultimately confirming the addition of Rs.89,640. Case-Laws Income Tax Fri, 08 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241741