https://www.taxtmi.com/caselaws?id=785158 Issue: Addition under section 69A for unexplained cash deposits. Reasoning: Assessee's explanation that deposits were from prior bank withdrawals, once pleaded, could not be displaced by mere assumption; AO bore onus to rebut with material evidence or circumstances rather than bald allegation. Outcome: Addition under section 69A deleted (ground sustained). Issue: Gift from mother-in-law. Reasoning: Gifts from family members are treated differently from commercial receipts; confirmation from donor was prima facie sufficient and AO's disbelief on mere preponderance lacked justification. Outcome: Gift accepted as genuine (ground sustained). Issue: Disallowance of exemption under section 54B by CIT(A). Reasoning: CIT(A)'s finding denied exemption resulted in enhancement of income and required opportunity to show cause; absence of notice rendered the enhancement procedurally infirm. Outcome: Enhancement set aside for lack of notice (ground sustained). en-us Wed, 26 Nov 2025 00:00:00 +0530 Mon, 19 Jan 2026 07:36:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785158 Issue: Addition under section 69A for unexplained cash deposits. Reasoning: Assessee's explanation that deposits were from prior bank withdrawals, once pleaded, could not be displaced by mere assumption; AO bore onus to rebut with material evidence or circumstances rather than bald allegation. Outcome: Addition under section 69A deleted (ground sustained). Issue: Gift from mother-in-law. Reasoning: Gifts from family members are treated differently from commercial receipts; confirmation from donor was prima facie sufficient and AO's disbelief on mere preponderance lacked justification. Outcome: Gift accepted as genuine (ground sustained). Issue: Disallowance of exemption under section 54B by CIT(A). Reasoning: CIT(A)'s finding denied exemption resulted in enhancement of income and required opportunity to show cause; absence of notice rendered the enhancement procedurally infirm. Outcome: Enhancement set aside for lack of notice (ground sustained). Case-Laws Income Tax Wed, 26 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785158