https://www.taxtmi.com/caselaws?id=435473 Unexplained cash found in the assessee's possession was treated as taxable because the later-produced books and cash statements did not displace the earlier admission at interception. In respect of immovable property investment, the addition was sustained only for the unexplained cash component, while the evidenced registration-related balance was deleted. The proposed property transaction did not result in a completed transfer during the relevant year, so short-term capital gains did not arise and that addition was deleted. For bank deposits, cheque entries were accepted as explained, but the cash deposits remained partly unsubstantiated, leading to partial sustenance of the addition. en-us Fri, 17 Mar 2023 00:00:00 +0530 Tue, 21 Mar 2023 08:15:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435473 Unexplained cash found in the assessee's possession was treated as taxable because the later-produced books and cash statements did not displace the earlier admission at interception. In respect of immovable property investment, the addition was sustained only for the unexplained cash component, while the evidenced registration-related balance was deleted. The proposed property transaction did not result in a completed transfer during the relevant year, so short-term capital gains did not arise and that addition was deleted. For bank deposits, cheque entries were accepted as explained, but the cash deposits remained partly unsubstantiated, leading to partial sustenance of the addition. Case-Laws Income Tax Fri, 17 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435473