https://www.taxtmi.com/caselaws?id=461834 The SC/HC Tribunal partially allowed the tax appeal concerning unexplained cash deposits during demonetization. The Tribunal upheld Rs. 8,00,000 of unexplained cash additions while rejecting Rs. 14,00,000 claimed as business income. The ruling emphasized the need for credible evidence, applying the "test of human probability" and scrutinizing self-serving family member affidavits. The decision granted partial relief to the assessee by reducing the original tax addition. en-us Mon, 04 Mar 2024 00:00:00 +0530 Fri, 02 May 2025 10:44:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461834 The SC/HC Tribunal partially allowed the tax appeal concerning unexplained cash deposits during demonetization. The Tribunal upheld Rs. 8,00,000 of unexplained cash additions while rejecting Rs. 14,00,000 claimed as business income. The ruling emphasized the need for credible evidence, applying the "test of human probability" and scrutinizing self-serving family member affidavits. The decision granted partial relief to the assessee by reducing the original tax addition. Case-Laws Income Tax Mon, 04 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461834