https://www.taxtmi.com/caselaws?id=771374 The ITAT Delhi partially allowed the assessee's appeal regarding cash deposits treated as unexplained credit under section 68. The assessee claimed Rs. 25 lacs from business advances and Rs. 45.43 lacs from property sales. Since both Revenue and assessee failed to provide corroborative evidence, and Revenue accepted the assessee's property dealing activity, the Tribunal applied a proportionate approach. It held that one-third of total cash deposits (Rs. 23.47 lacs) should be treated as explained sources, while sustaining addition of two-thirds (Rs. 46.96 lacs) as unexplained credit. en-us Wed, 14 May 2025 00:00:00 +0530 Fri, 23 May 2025 17:07:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771374 The ITAT Delhi partially allowed the assessee's appeal regarding cash deposits treated as unexplained credit under section 68. The assessee claimed Rs. 25 lacs from business advances and Rs. 45.43 lacs from property sales. Since both Revenue and assessee failed to provide corroborative evidence, and Revenue accepted the assessee's property dealing activity, the Tribunal applied a proportionate approach. It held that one-third of total cash deposits (Rs. 23.47 lacs) should be treated as explained sources, while sustaining addition of two-thirds (Rs. 46.96 lacs) as unexplained credit. Case-Laws Income Tax Wed, 14 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771374