https://www.taxtmi.com/caselaws?id=785961 Addition under section 68 challenged cash deposits made during demonetisation; the material legal point is that an assessee must provide a satisfactory, contemporaneous explanation, acceptable on the touchstone of human probabilities, to prove that withdrawn cash remained intact and unutilised for later redeposit. Concurrent findings that explanations (cash held for tax, partner disputes, business difficulties) were vague and unsupported led to rejection of the claimed source. Mere identity of withdrawal and deposit entries does not conclusively explain source; absence of contemporaneous evidence or immediate unavoidable cash need undermines the defence. en-us Thu, 29 Jan 2026 00:00:00 +0530 Tue, 03 Feb 2026 08:39:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785961 Addition under section 68 challenged cash deposits made during demonetisation; the material legal point is that an assessee must provide a satisfactory, contemporaneous explanation, acceptable on the touchstone of human probabilities, to prove that withdrawn cash remained intact and unutilised for later redeposit. Concurrent findings that explanations (cash held for tax, partner disputes, business difficulties) were vague and unsupported led to rejection of the claimed source. Mere identity of withdrawal and deposit entries does not conclusively explain source; absence of contemporaneous evidence or immediate unavoidable cash need undermines the defence. Case-Laws Income Tax Thu, 29 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785961