https://www.taxtmi.com/caselaws?id=467678 Where cash deposits are shown to have emanated from prior cash withdrawals and the revenue does not dispute the source of those withdrawals, an addition for unexplained expenditure under section 69C cannot stand. The Tribunal found that the withdrawals were not disproportionate to the declared gross receipts and that the lower authorities had not doubted the availability of cash with the assessee. On that factual basis, the deposits were treated as traceable to explained funds already in hand, and the addition was deleted. en-us Mon, 17 Feb 2025 00:00:00 +0530 Sat, 28 Mar 2026 18:44:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467678 Where cash deposits are shown to have emanated from prior cash withdrawals and the revenue does not dispute the source of those withdrawals, an addition for unexplained expenditure under section 69C cannot stand. The Tribunal found that the withdrawals were not disproportionate to the declared gross receipts and that the lower authorities had not doubted the availability of cash with the assessee. On that factual basis, the deposits were treated as traceable to explained funds already in hand, and the addition was deleted. Case-Laws Income Tax Mon, 17 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467678