https://www.taxtmi.com/caselaws?id=782791 ITAT Delhi partly allowed the assessee's appeal against addition under sections 69A/115BBE for cash deposits. It held that cash withdrawals of Rs 7,60,000 from the current account and Rs 1,48,500 from the savings account were not shown by the Revenue to have been used elsewhere, thereby satisfactorily explaining Rs 9,08,500 of deposits. As the assessee failed to substantiate past savings, the Tribunal granted an estimated credit of Rs 1,00,000 based on earlier adhesive business activity and sustained the balance Rs 2,48,180 as unexplained money. Interest under section 234A was directed to be computed with reference to the due date in the section 148 notice and actual filing, section 234B interest as consequential, and section 234C interest only on returned income. en-us Wed, 20 Aug 2025 00:00:00 +0530 Wed, 03 Dec 2025 14:25:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782791 ITAT Delhi partly allowed the assessee's appeal against addition under sections 69A/115BBE for cash deposits. It held that cash withdrawals of Rs 7,60,000 from the current account and Rs 1,48,500 from the savings account were not shown by the Revenue to have been used elsewhere, thereby satisfactorily explaining Rs 9,08,500 of deposits. As the assessee failed to substantiate past savings, the Tribunal granted an estimated credit of Rs 1,00,000 based on earlier adhesive business activity and sustained the balance Rs 2,48,180 as unexplained money. Interest under section 234A was directed to be computed with reference to the due date in the section 148 notice and actual filing, section 234B interest as consequential, and section 234C interest only on returned income. Case-Laws Income Tax Wed, 20 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782791