https://www.taxtmi.com/caselaws?id=778341 ITAT held in favor of the assessee and allowed the appeal, finding that the AO had accepted unsecured loans and own savings as the source of cash deposits. The tribunal rejected the CIT(A)'s finding that certain deposits were unexplained, noting explanations that deposits arose from prior withdrawals, borrowings from friends and relatives, a loan from DHFL, and amounts deposited on behalf of the assessee's spouse from tuition receipts. Deposits in Axis and HDFC banks were thus treated as satisfactorily explained. en-us Fri, 17 Jan 2025 00:00:00 +0530 Mon, 15 Sep 2025 08:26:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778341 ITAT held in favor of the assessee and allowed the appeal, finding that the AO had accepted unsecured loans and own savings as the source of cash deposits. The tribunal rejected the CIT(A)'s finding that certain deposits were unexplained, noting explanations that deposits arose from prior withdrawals, borrowings from friends and relatives, a loan from DHFL, and amounts deposited on behalf of the assessee's spouse from tuition receipts. Deposits in Axis and HDFC banks were thus treated as satisfactorily explained. Case-Laws Income Tax Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778341