https://www.taxtmi.com/caselaws?id=362915 Cash found in an assessee's possession may be treated as unexplained income where the assessee fails to provide a credible, substantiated source and the explanation is inconsistent with surrounding circumstances and normal business probabilities. The cash addition was sustained because the presumption arising from possession was not rebutted. Conversely, an undated cheque lacking an identified drawee and not encashed does not constitute taxable income where it has produced no realised monetary value. The addition based on that cheque was deleted, resulting in partial relief. en-us Tue, 03 Jul 2018 00:00:00 +0530 Thu, 05 Jul 2018 12:08:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362915 Cash found in an assessee's possession may be treated as unexplained income where the assessee fails to provide a credible, substantiated source and the explanation is inconsistent with surrounding circumstances and normal business probabilities. The cash addition was sustained because the presumption arising from possession was not rebutted. Conversely, an undated cheque lacking an identified drawee and not encashed does not constitute taxable income where it has produced no realised monetary value. The addition based on that cheque was deleted, resulting in partial relief. Case-Laws Income Tax Tue, 03 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362915