https://www.taxtmi.com/caselaws?id=466304 Addition of a cash deposit during the demonetisation period as unexplained money was contested. ITAT found the sum had been immediately used for online payments to third parties (including universities) in the ordinary course of the assessee's activities, so it could not be treated wholly as unexplained money under the tax provision relied upon; therefore only the income element was open to estimation. Because complete student details were not produced, the tribunal estimated income at Rs. 50,000 on a Rs. 10,00,000 deposit and partly allowed the appeal. en-us Thu, 27 Feb 2025 00:00:00 +0530 Sun, 01 Feb 2026 19:07:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466304 Addition of a cash deposit during the demonetisation period as unexplained money was contested. ITAT found the sum had been immediately used for online payments to third parties (including universities) in the ordinary course of the assessee's activities, so it could not be treated wholly as unexplained money under the tax provision relied upon; therefore only the income element was open to estimation. Because complete student details were not produced, the tribunal estimated income at Rs. 50,000 on a Rs. 10,00,000 deposit and partly allowed the appeal. Case-Laws Income Tax Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466304