https://www.taxtmi.com/caselaws?id=459580 Cash deposits were claimed as sale proceeds from small-scale vegetable and onion trading, and part of those deposits had already been accepted as business turnover. The ITAT held that the remaining deposits could not be treated as unexplained income on the same facts without cogent reasons or supporting material for the distinction. As the assessee's explanation was not rebutted by contrary evidence, the burden was treated as discharged. The addition of the balance cash deposits was deleted and the orders of the lower authorities were set aside. en-us Wed, 14 Aug 2024 00:00:00 +0530 Wed, 18 Dec 2024 19:04:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459580 Cash deposits were claimed as sale proceeds from small-scale vegetable and onion trading, and part of those deposits had already been accepted as business turnover. The ITAT held that the remaining deposits could not be treated as unexplained income on the same facts without cogent reasons or supporting material for the distinction. As the assessee's explanation was not rebutted by contrary evidence, the burden was treated as discharged. The addition of the balance cash deposits was deleted and the orders of the lower authorities were set aside. Case-Laws Income Tax Wed, 14 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459580