https://www.taxtmi.com/caselaws?id=756519 Cash deposits in the assessee's bank account were examined under section 69A of the Income-tax Act as alleged unexplained money. The assessee explained that the deposits came from a prior gold loan and related cash withdrawals, and that the funds remained available because planned marriage expenditure was postponed when the daughter chose further education. That explanation was found consistent with surrounding circumstances and was not rebutted by any contrary material from the Revenue. On that basis, the assessee was held to have discharged the burden of explaining the nature and source of the deposits, and the addition was directed to be deleted. en-us Thu, 01 Aug 2024 00:00:00 +0530 Sat, 03 Aug 2024 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756519 Cash deposits in the assessee's bank account were examined under section 69A of the Income-tax Act as alleged unexplained money. The assessee explained that the deposits came from a prior gold loan and related cash withdrawals, and that the funds remained available because planned marriage expenditure was postponed when the daughter chose further education. That explanation was found consistent with surrounding circumstances and was not rebutted by any contrary material from the Revenue. On that basis, the assessee was held to have discharged the burden of explaining the nature and source of the deposits, and the addition was directed to be deleted. Case-Laws Income Tax Thu, 01 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756519