https://www.taxtmi.com/caselaws?id=769852 ITAT Pune partially allowed the assessee's appeal regarding unexplained cash deposits of Rs. 40 lakh under section 69A read with section 115BBE. The assessee claimed deposits originated from earlier bank withdrawals of Rs. 35 lakh from ICICI and other accounts. ITAT found a Rs. 5 lakh difference between withdrawals and deposits, noting the assessee took a bank loan despite having cash and failed to demonstrate expenditure sources for children's education. Taking a liberal approach, ITAT sustained addition of Rs. 15 lakh instead of Rs. 40 lakh, granting Rs. 25 lakh relief, accepting partial source explanation from December 2015 withdrawals and accumulated savings. en-us Wed, 30 Apr 2025 00:00:00 +0530 Fri, 02 May 2025 08:54:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769852 ITAT Pune partially allowed the assessee's appeal regarding unexplained cash deposits of Rs. 40 lakh under section 69A read with section 115BBE. The assessee claimed deposits originated from earlier bank withdrawals of Rs. 35 lakh from ICICI and other accounts. ITAT found a Rs. 5 lakh difference between withdrawals and deposits, noting the assessee took a bank loan despite having cash and failed to demonstrate expenditure sources for children's education. Taking a liberal approach, ITAT sustained addition of Rs. 15 lakh instead of Rs. 40 lakh, granting Rs. 25 lakh relief, accepting partial source explanation from December 2015 withdrawals and accumulated savings. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769852