https://www.taxtmi.com/caselaws?id=766763 Cash deposits in the assessee's bank accounts were held to be linked to regular cold storage business receipts and withdrawals for operating expenses, so the premise of unexplained money under section 69 failed and the addition was deleted. An income estimate at 8% on other bank deposits was also rejected because the audited accounts and surrounding record did not provide a reasonable basis for such estimation, so that addition was deleted as well. The impugned additions were set aside in full. en-us Fri, 28 Feb 2025 00:00:00 +0530 Tue, 04 Mar 2025 07:12:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766763 Cash deposits in the assessee's bank accounts were held to be linked to regular cold storage business receipts and withdrawals for operating expenses, so the premise of unexplained money under section 69 failed and the addition was deleted. An income estimate at 8% on other bank deposits was also rejected because the audited accounts and surrounding record did not provide a reasonable basis for such estimation, so that addition was deleted as well. The impugned additions were set aside in full. Case-Laws Income Tax Fri, 28 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766763