https://www.taxtmi.com/caselaws?id=188389 The Tribunal partially allowed the appeal, accepting the explanation for a portion of the unexplained cash credit in the bank account. The Tribunal found that a cash deposit of Rs. 21 lakhs was sourced from a withdrawal of Rs. 13 lakhs a week earlier, establishing a legitimate connection. As there was no evidence of alternative use for the withdrawn amount, the Tribunal upheld the addition of Rs. 8 lakhs, emphasizing the necessity for coherent explanations and evidence in financial transactions to prevent income additions. en-us Fri, 27 Mar 2015 00:00:00 +0530 Tue, 29 Nov 2016 14:13:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188389 The Tribunal partially allowed the appeal, accepting the explanation for a portion of the unexplained cash credit in the bank account. The Tribunal found that a cash deposit of Rs. 21 lakhs was sourced from a withdrawal of Rs. 13 lakhs a week earlier, establishing a legitimate connection. As there was no evidence of alternative use for the withdrawn amount, the Tribunal upheld the addition of Rs. 8 lakhs, emphasizing the necessity for coherent explanations and evidence in financial transactions to prevent income additions. Case-Laws Income Tax Fri, 27 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188389