https://www.taxtmi.com/caselaws?id=373053 Cash credits arising from bank deposits in creditors' accounts were not fully sustainable as unexplained where the assessee produced confirmations, bank statements and material showing agricultural background. Although the explanation was not entirely satisfactory because similar cash deposits appeared shortly before the loans were advanced, the admitted agricultural income of the creditors could not be ignored altogether. On that basis, the addition was restricted rather than sustained in full, with 50% deleted and the balance maintained. en-us Thu, 03 Jan 2019 00:00:00 +0530 Sat, 05 Jan 2019 08:06:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373053 Cash credits arising from bank deposits in creditors' accounts were not fully sustainable as unexplained where the assessee produced confirmations, bank statements and material showing agricultural background. Although the explanation was not entirely satisfactory because similar cash deposits appeared shortly before the loans were advanced, the admitted agricultural income of the creditors could not be ignored altogether. On that basis, the addition was restricted rather than sustained in full, with 50% deleted and the balance maintained. Case-Laws Income Tax Thu, 03 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373053