https://www.taxtmi.com/caselaws?id=781667 ITAT held that the assessee's explanation for unexplained cash deposits - evidence from the school manager and an affidavit by the wife asserting deposits were from school receipts and agricultural proceeds - was acceptable. AO and CIT(A) had disbelieved the explanation based on suspicion and conjecture despite supporting evidence. On the facts, ITAT allowed the appeal, directing that the deposits not be treated as unexplained income. en-us Mon, 25 Aug 2025 00:00:00 +0530 Wed, 19 Nov 2025 08:52:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781667 ITAT held that the assessee's explanation for unexplained cash deposits - evidence from the school manager and an affidavit by the wife asserting deposits were from school receipts and agricultural proceeds - was acceptable. AO and CIT(A) had disbelieved the explanation based on suspicion and conjecture despite supporting evidence. On the facts, ITAT allowed the appeal, directing that the deposits not be treated as unexplained income. Case-Laws Income Tax Mon, 25 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781667