https://www.taxtmi.com/caselaws?id=772181 The Income Tax Tribunal deleted an addition of Rs. 1,50,000/- under Section 69A during the demonetization period. The SC held that when the assessee's business income and agricultural income sources were undisputed and no contradictory evidence was presented by the department, the cash deposits could not be treated as unexplained money. The Tribunal emphasized that mere timing of deposits during demonetization does not automatically render funds unexplained, and the burden of proof lies with the tax department to establish undisclosed sources. en-us Fri, 04 Apr 2025 00:00:00 +0530 Thu, 05 Jun 2025 08:25:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772181 The Income Tax Tribunal deleted an addition of Rs. 1,50,000/- under Section 69A during the demonetization period. The SC held that when the assessee's business income and agricultural income sources were undisputed and no contradictory evidence was presented by the department, the cash deposits could not be treated as unexplained money. The Tribunal emphasized that mere timing of deposits during demonetization does not automatically render funds unexplained, and the burden of proof lies with the tax department to establish undisclosed sources. Case-Laws Income Tax Fri, 04 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772181