https://www.taxtmi.com/caselaws?id=783628 Whether cash deposits were liable to be treated as unexplained money under s. 69A was the dominant issue. The assessee attributed deposits to sale proceeds of paintings, sale of part of ancestral jewellery belonging to the mother (supported by a valuation report), and cash gifts received by the son on the occasion of his engagement, and furnished a cash-flow statement. The ITAT held that such personal explanations must be tested on human probabilities and ordinary conduct, and that the asserted facts were plausible and not shown to be disproportionate; the Revenue merely raised doubts without rebutting the evidentiary basis. Consequently, the deletion of the s. 69A addition was upheld and the Revenue's appeal was dismissed. en-us Wed, 10 Dec 2025 00:00:00 +0530 Fri, 19 Dec 2025 08:30:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783628 Whether cash deposits were liable to be treated as unexplained money under s. 69A was the dominant issue. The assessee attributed deposits to sale proceeds of paintings, sale of part of ancestral jewellery belonging to the mother (supported by a valuation report), and cash gifts received by the son on the occasion of his engagement, and furnished a cash-flow statement. The ITAT held that such personal explanations must be tested on human probabilities and ordinary conduct, and that the asserted facts were plausible and not shown to be disproportionate; the Revenue merely raised doubts without rebutting the evidentiary basis. Consequently, the deletion of the s. 69A addition was upheld and the Revenue's appeal was dismissed. Case-Laws Income Tax Wed, 10 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783628