https://www.taxtmi.com/caselaws?id=386434 The tribunal allowed the appeal of the assessee, directing the deletion of the addition of Rs. 43,70,000. The tribunal found the explanation provided by the assessee regarding the source of the cash deposits to be satisfactory, emphasizing the close family relationship, the availability of funds from a known source, the supporting affidavit, and the consistent actions taken in good faith. The addition was deemed to be based on mere suspicions without concrete evidence, leading to its deletion. en-us Thu, 26 Sep 2019 00:00:00 +0530 Fri, 27 Sep 2019 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386434 The tribunal allowed the appeal of the assessee, directing the deletion of the addition of Rs. 43,70,000. The tribunal found the explanation provided by the assessee regarding the source of the cash deposits to be satisfactory, emphasizing the close family relationship, the availability of funds from a known source, the supporting affidavit, and the consistent actions taken in good faith. The addition was deemed to be based on mere suspicions without concrete evidence, leading to its deletion. Case-Laws Income Tax Thu, 26 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386434