https://www.taxtmi.com/caselaws?id=776095 Cash deposits in a bank account were held not to be unexplained income where the assessee gave a credible source explanation that the funds came from a gold loan intended for a proposed dairy farming business, and the business was not started due to family circumstances. The record contained no contrary material showing that the money had been used for any purchase or other transaction after withdrawal. In the absence of evidence rebutting the explanation or tracing the amount to another income source, the addition as unexplained income was deleted. en-us Thu, 02 Jan 2025 00:00:00 +0530 Tue, 05 Aug 2025 07:54:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776095 Cash deposits in a bank account were held not to be unexplained income where the assessee gave a credible source explanation that the funds came from a gold loan intended for a proposed dairy farming business, and the business was not started due to family circumstances. The record contained no contrary material showing that the money had been used for any purchase or other transaction after withdrawal. In the absence of evidence rebutting the explanation or tracing the amount to another income source, the addition as unexplained income was deleted. Case-Laws Income Tax Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776095