https://www.taxtmi.com/caselaws?id=447711 ITAT Delhi held that cash deposits totaling Rs. 95,000 were adequately explained by the assessee. Rs. 50,000 was supported by cash withdrawals from the same bank account on 24.11.2016, while remaining Rs. 45,000 was justified by other income of Rs. 6.78 lakhs earned in cash and declared in the return for AY 2016-17. No addition was warranted as the source of cash deposits was properly substantiated. Interest under sections 234B and 234C was addressed as consequential matters. en-us Thu, 30 Nov 2023 00:00:00 +0530 Wed, 03 Jan 2024 08:15:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447711 ITAT Delhi held that cash deposits totaling Rs. 95,000 were adequately explained by the assessee. Rs. 50,000 was supported by cash withdrawals from the same bank account on 24.11.2016, while remaining Rs. 45,000 was justified by other income of Rs. 6.78 lakhs earned in cash and declared in the return for AY 2016-17. No addition was warranted as the source of cash deposits was properly substantiated. Interest under sections 234B and 234C was addressed as consequential matters. Case-Laws Income Tax Thu, 30 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447711