https://www.taxtmi.com/caselaws?id=771778 The Tribunal partially upheld the tax assessment, making a lump-sum addition of Rs. 5 lakhs for unexplained cash deposits during demonetization. While rejecting the full Rs. 91.77 lakhs addition, the Tribunal found some unexplained elements in the cash deposits. The addition was directed to be taxed under normal provisions, not the higher rate under Section 115BBE, based on the Madras HC's interpretation of the statutory provision's applicability. en-us Wed, 28 May 2025 00:00:00 +0530 Fri, 30 May 2025 08:55:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771778 The Tribunal partially upheld the tax assessment, making a lump-sum addition of Rs. 5 lakhs for unexplained cash deposits during demonetization. While rejecting the full Rs. 91.77 lakhs addition, the Tribunal found some unexplained elements in the cash deposits. The addition was directed to be taxed under normal provisions, not the higher rate under Section 115BBE, based on the Madras HC's interpretation of the statutory provision's applicability. Case-Laws Income Tax Wed, 28 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771778