https://www.taxtmi.com/caselaws?id=326581 The tribunal upheld the CIT(A)'s decision in a case concerning the legitimacy of cash deposits in the assessee's bank account. Despite various explanations provided by the assessee, including past savings and gifts, the evidence presented was deemed insufficient to substantiate the sources of the deposits. The tribunal found that the explanations did not pass the human probability test and confirmed an addition of Rs. 36,04,000 while allowing partial relief of Rs. 3,00,000. The appeal and stay application were dismissed due to lack of credible evidence. en-us Thu, 25 Feb 2016 00:00:00 +0530 Wed, 20 Apr 2016 09:49:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326581 The tribunal upheld the CIT(A)'s decision in a case concerning the legitimacy of cash deposits in the assessee's bank account. Despite various explanations provided by the assessee, including past savings and gifts, the evidence presented was deemed insufficient to substantiate the sources of the deposits. The tribunal found that the explanations did not pass the human probability test and confirmed an addition of Rs. 36,04,000 while allowing partial relief of Rs. 3,00,000. The appeal and stay application were dismissed due to lack of credible evidence. Case-Laws Income Tax Thu, 25 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326581