https://www.taxtmi.com/article/detailed?id=11655 The assessing officer bears the burden of proof to establish an alternate source before invoking Section 69A for unexplained cash; cogent evidentiary material is required to classify bank deposits as unexplained rather than business receipts. Rejection of declared closing stock or explanations of cash sales/purchases must be specifically justified. Without material showing a distinct undisclosed source, additions under unexplained-money provisions cannot be sustained, while satisfactorily explained excess cash and stock should be treated as business income. en-us Wed, 26 Jul 2023 11:44:36 +0530 Wed, 26 Jul 2023 11:44:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11655 The assessing officer bears the burden of proof to establish an alternate source before invoking Section 69A for unexplained cash; cogent evidentiary material is required to classify bank deposits as unexplained rather than business receipts. Rejection of declared closing stock or explanations of cash sales/purchases must be specifically justified. Without material showing a distinct undisclosed source, additions under unexplained-money provisions cannot be sustained, while satisfactorily explained excess cash and stock should be treated as business income. Articles Income Tax Wed, 26 Jul 2023 11:44:36 +0530 https://www.taxtmi.com/article/detailed?id=11655