https://www.taxtmi.com/caselaws?id=754817 The ITAT Delhi allowed the assessee's appeal regarding unexplained money under section 69A. The deceased assessee's wife, representing the case, had no knowledge of his activities. The assessee had filed bank statements showing cash deposits were from earlier withdrawals. Despite unclear reasons for maintaining large cash amounts, the tribunal applied the benefit of doubt principle, citing precedent that time gaps between withdrawals and deposits may be ignored when there's possibility of re-depositing excess cash. en-us Thu, 27 Jun 2024 00:00:00 +0530 Mon, 01 Jul 2024 08:32:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754817 The ITAT Delhi allowed the assessee's appeal regarding unexplained money under section 69A. The deceased assessee's wife, representing the case, had no knowledge of his activities. The assessee had filed bank statements showing cash deposits were from earlier withdrawals. Despite unclear reasons for maintaining large cash amounts, the tribunal applied the benefit of doubt principle, citing precedent that time gaps between withdrawals and deposits may be ignored when there's possibility of re-depositing excess cash. Case-Laws Income Tax Thu, 27 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754817