https://www.taxtmi.com/caselaws?id=770412 Bank withdrawals made in the course of a proved agency arrangement were not assessable as unexplained money under section 69A of the Income-tax Act, 1961, where the assessee showed that it acted as a Customer Service Point agent and the credits in the bank account were supported by contemporaneous records. The appellate authority's factual findings accepted that the amounts were handled for customers through the agency arrangement and that the source of the credits was explained, while the small commission earned on the transactions had already been offered to tax. On that basis, the additions on account of bank withdrawals and contractual receipts were not sustainable, and the Revenue's appeal was dismissed. en-us Tue, 25 Mar 2025 00:00:00 +0530 Sat, 10 May 2025 08:36:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770412 Bank withdrawals made in the course of a proved agency arrangement were not assessable as unexplained money under section 69A of the Income-tax Act, 1961, where the assessee showed that it acted as a Customer Service Point agent and the credits in the bank account were supported by contemporaneous records. The appellate authority's factual findings accepted that the amounts were handled for customers through the agency arrangement and that the source of the credits was explained, while the small commission earned on the transactions had already been offered to tax. On that basis, the additions on account of bank withdrawals and contractual receipts were not sustainable, and the Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770412