https://www.taxtmi.com/caselaws?id=391469 The Tribunal allowed the appeal of the assessee by setting aside the CIT(A)'s order and directing the deletion of the addition of Rs. 19,17,000 made under Section 68 of the Income-tax Act, 1961, due to unexplained cash deposits in the assessee's bank account. The Tribunal found the explanations provided by the assessee regarding the sources of the cash deposits to be satisfactory, emphasizing that the timing of gifts from the father and the plausibility of the claimed savings were reasonable, leading to the conclusion that the addition was unjustified. en-us Thu, 31 Oct 2019 00:00:00 +0530 Wed, 29 Jan 2020 07:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391469 The Tribunal allowed the appeal of the assessee by setting aside the CIT(A)'s order and directing the deletion of the addition of Rs. 19,17,000 made under Section 68 of the Income-tax Act, 1961, due to unexplained cash deposits in the assessee's bank account. The Tribunal found the explanations provided by the assessee regarding the sources of the cash deposits to be satisfactory, emphasizing that the timing of gifts from the father and the plausibility of the claimed savings were reasonable, leading to the conclusion that the addition was unjustified. Case-Laws Income Tax Thu, 31 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391469