https://www.taxtmi.com/caselaws?id=764117 The Tribunal partially allowed the appeal, determining that Rs. 10,00,000/- of the cash deposits during the demonetization period remained unexplained under Section 69A of the Income Tax Act, 1961, while the remaining deposits were deemed satisfactorily explained. Additionally, the Tribunal deleted the addition of Rs. 23,26,003/- as unexplained credit entries, accepting the assessee's explanation regarding the sources of these credits. The judgment emphasized the assessee's burden of proof to substantiate the sources of cash deposits and credit entries. en-us Tue, 31 Dec 2024 00:00:00 +0530 Fri, 03 Jan 2025 08:45:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764117 The Tribunal partially allowed the appeal, determining that Rs. 10,00,000/- of the cash deposits during the demonetization period remained unexplained under Section 69A of the Income Tax Act, 1961, while the remaining deposits were deemed satisfactorily explained. Additionally, the Tribunal deleted the addition of Rs. 23,26,003/- as unexplained credit entries, accepting the assessee's explanation regarding the sources of these credits. The judgment emphasized the assessee's burden of proof to substantiate the sources of cash deposits and credit entries. Case-Laws Income Tax Tue, 31 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764117