https://www.taxtmi.com/caselaws?id=405032 Additional evidence in the form of a daily cash summary was treated as admissible because it was relevant to proper adjudication and its earlier non-production was explained. On the cash deposits issue, where the cash book showed withdrawals and later deposits, earlier withdrawals could be a source for later deposits if the surrounding facts supported that explanation. The proper enquiry was into peak cash balance rather than treating the entire deposits as unexplained. As the newly produced cash-flow statement had not been examined by the Assessing Officer, the matter required fresh factual verification on remand after giving the assessee an opportunity of hearing. en-us Tue, 09 Mar 2021 00:00:00 +0530 Wed, 10 Mar 2021 08:29:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405032 Additional evidence in the form of a daily cash summary was treated as admissible because it was relevant to proper adjudication and its earlier non-production was explained. On the cash deposits issue, where the cash book showed withdrawals and later deposits, earlier withdrawals could be a source for later deposits if the surrounding facts supported that explanation. The proper enquiry was into peak cash balance rather than treating the entire deposits as unexplained. As the newly produced cash-flow statement had not been examined by the Assessing Officer, the matter required fresh factual verification on remand after giving the assessee an opportunity of hearing. Case-Laws Income Tax Tue, 09 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405032