https://www.taxtmi.com/caselaws?id=372814 The Tribunal allowed the appellant's appeal, directing the deletion of the addition of unexplained cash deposits in the bank account under section 69 of the Income-Tax Act, 1961. The Tribunal found the revenue authorities unjustified in rejecting the appellant's explanation regarding the source of cash deposits, emphasizing that as long as the source is established, the utilization of the withdrawn money is not a concern for the Department. The decision underscores the importance of explaining the source of funds rather than the interim utilization of withdrawn amounts. en-us Wed, 03 Oct 2018 00:00:00 +0530 Thu, 27 Dec 2018 16:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372814 The Tribunal allowed the appellant's appeal, directing the deletion of the addition of unexplained cash deposits in the bank account under section 69 of the Income-Tax Act, 1961. The Tribunal found the revenue authorities unjustified in rejecting the appellant's explanation regarding the source of cash deposits, emphasizing that as long as the source is established, the utilization of the withdrawn money is not a concern for the Department. The decision underscores the importance of explaining the source of funds rather than the interim utilization of withdrawn amounts. Case-Laws Income Tax Wed, 03 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372814