https://www.taxtmi.com/caselaws?id=774100 A cash deposit made during the demonetisation period was examined for treatment as unexplained income under section 69 of the Income-tax Act, 1961. The assessee supported the source with audited financial statements and return records showing cash-in-hand of Rs. 11,30,655 as on 31.03.2016, which was sufficient to cover the disputed deposit. In the absence of contrary material to dislodge the disclosed cash balance or show that the deposit lacked an explained source, the addition under section 69 was unsustainable and was deleted in favour of the assessee. en-us Wed, 21 May 2025 00:00:00 +0530 Thu, 03 Jul 2025 08:34:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774100 A cash deposit made during the demonetisation period was examined for treatment as unexplained income under section 69 of the Income-tax Act, 1961. The assessee supported the source with audited financial statements and return records showing cash-in-hand of Rs. 11,30,655 as on 31.03.2016, which was sufficient to cover the disputed deposit. In the absence of contrary material to dislodge the disclosed cash balance or show that the deposit lacked an explained source, the addition under section 69 was unsustainable and was deleted in favour of the assessee. Case-Laws Income Tax Wed, 21 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774100