https://www.taxtmi.com/caselaws?id=467355 ITAT examined additions under the unexplained cash deposit regime and held that an assessee must satisfactorily explain sources to avoid additions; deposits during the demonetisation window lacked credible bank-withdrawal evidence for alleged gifts and hence additions of 23,17,000 were sustained, while deposits of 32,21,150 for the remainder of the year were supported by ledger entries, sale deed and family returns and therefore deleted. The Tribunal further held that the special tax provision invoked by revenue did not independently apply beyond the sustained additions on demonetisation-period deposits. en-us Thu, 27 Feb 2025 00:00:00 +0530 Sun, 15 Mar 2026 22:08:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467355 ITAT examined additions under the unexplained cash deposit regime and held that an assessee must satisfactorily explain sources to avoid additions; deposits during the demonetisation window lacked credible bank-withdrawal evidence for alleged gifts and hence additions of 23,17,000 were sustained, while deposits of 32,21,150 for the remainder of the year were supported by ledger entries, sale deed and family returns and therefore deleted. The Tribunal further held that the special tax provision invoked by revenue did not independently apply beyond the sustained additions on demonetisation-period deposits. Case-Laws Income Tax Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467355