https://www.taxtmi.com/caselaws?id=780799 ITAT (COCHIN) - AT allowed the appeal and directed the AO to delete the addition of cash deposits. The tribunal found the withdrawals from the relative's NRE account in Aug-Sept 2016 were genuine and the explanation that those funds were later deposited during the demonetisation period because they could not be used for house construction was plausible. Neither the AO nor CIT(A) disputed the withdrawals' genuineness, and there was no evidence the funds were used for another purpose. On these facts, the deposits could not be treated as unexplained income. en-us Mon, 25 Aug 2025 00:00:00 +0530 Wed, 05 Nov 2025 16:02:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780799 ITAT (COCHIN) - AT allowed the appeal and directed the AO to delete the addition of cash deposits. The tribunal found the withdrawals from the relative's NRE account in Aug-Sept 2016 were genuine and the explanation that those funds were later deposited during the demonetisation period because they could not be used for house construction was plausible. Neither the AO nor CIT(A) disputed the withdrawals' genuineness, and there was no evidence the funds were used for another purpose. On these facts, the deposits could not be treated as unexplained income. Case-Laws Income Tax Mon, 25 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780799