https://www.taxtmi.com/caselaws?id=461275 The Tribunal allowed the appeal, finding the addition of Rs.3,26,000/- to the assessee's income under Section 68 of the Income Tax Act, 1961, unjustified. It concluded that the assessee satisfactorily explained the cash deposits as sourced from previous bank withdrawals. The Tribunal emphasized that subjective expectations of behavior should not override objective evidence of available funds. Consequently, the Tribunal deleted the addition and partly allowed the appeal, affirming that the explanation provided by the assessee was reasonable and credible. en-us Tue, 16 Jul 2013 00:00:00 +0530 Wed, 26 Mar 2025 12:46:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461275 The Tribunal allowed the appeal, finding the addition of Rs.3,26,000/- to the assessee's income under Section 68 of the Income Tax Act, 1961, unjustified. It concluded that the assessee satisfactorily explained the cash deposits as sourced from previous bank withdrawals. The Tribunal emphasized that subjective expectations of behavior should not override objective evidence of available funds. Consequently, the Tribunal deleted the addition and partly allowed the appeal, affirming that the explanation provided by the assessee was reasonable and credible. Case-Laws Income Tax Tue, 16 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461275