https://www.taxtmi.com/caselaws?id=345800 Cash deposits in a bank account are added only to the extent they remain unexplained, and substantiated agricultural receipts must be given credit; here, the explained portion was accepted and the addition was sustained only for the balance. Where an undisclosed bank account shows both deposits and withdrawals, the movement of funds indicates recycling, so the proper basis for taxation is peak credit rather than taxing each deposit in full; that approach was upheld for the PNB account. en-us Fri, 24 Mar 2017 00:00:00 +0530 Thu, 27 Jul 2017 08:14:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345800 Cash deposits in a bank account are added only to the extent they remain unexplained, and substantiated agricultural receipts must be given credit; here, the explained portion was accepted and the addition was sustained only for the balance. Where an undisclosed bank account shows both deposits and withdrawals, the movement of funds indicates recycling, so the proper basis for taxation is peak credit rather than taxing each deposit in full; that approach was upheld for the PNB account. Case-Laws Income Tax Fri, 24 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345800