https://www.taxtmi.com/caselaws?id=771922 The ITAT Chandigarh held that no addition under Section 69 for unexplained cash deposits was warranted. The AO failed to identify specific defects in the assessee's claimed sources, including FDRs and land sale proceeds from relatives. While noting minor discrepancies in the cash flow statement reconciliation, the tribunal found the assessee had adequately demonstrated sufficient sources through bank withdrawals and FDR encashments. The AO's examination was deemed superficial as he merely incorporated the assessee's cash flow without verifying underlying documentary evidence. The appeal was partly allowed. en-us Tue, 11 Mar 2025 00:00:00 +0530 Fri, 30 May 2025 15:17:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771922 The ITAT Chandigarh held that no addition under Section 69 for unexplained cash deposits was warranted. The AO failed to identify specific defects in the assessee's claimed sources, including FDRs and land sale proceeds from relatives. While noting minor discrepancies in the cash flow statement reconciliation, the tribunal found the assessee had adequately demonstrated sufficient sources through bank withdrawals and FDR encashments. The AO's examination was deemed superficial as he merely incorporated the assessee's cash flow without verifying underlying documentary evidence. The appeal was partly allowed. Case-Laws Income Tax Tue, 11 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771922