https://www.taxtmi.com/caselaws?id=343180 Unexplained cash deposits in a bank account were upheld as taxable because the assessee failed to prove the source of the cash or establish rotation of the same funds. Mere production of cash book and bank book, without primary supporting evidence such as bills or vouchers, was held insufficient to discharge the initial onus. The Tribunal applied the preponderance of probability and human probabilities tests, and found no reliable records to support a peak credit computation. The plea to restrict the addition to peak credit was therefore rejected, and the addition for unexplained deposits sustained. en-us Thu, 18 May 2017 00:00:00 +0530 Sat, 20 May 2017 09:03:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343180 Unexplained cash deposits in a bank account were upheld as taxable because the assessee failed to prove the source of the cash or establish rotation of the same funds. Mere production of cash book and bank book, without primary supporting evidence such as bills or vouchers, was held insufficient to discharge the initial onus. The Tribunal applied the preponderance of probability and human probabilities tests, and found no reliable records to support a peak credit computation. The plea to restrict the addition to peak credit was therefore rejected, and the addition for unexplained deposits sustained. Case-Laws Income Tax Thu, 18 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343180