https://www.taxtmi.com/caselaws?id=790468 Contemporaneous acknowledgements, purchaser confirmation and evidence of direct payment to the developer can satisfactorily explain bank cash deposits arising from a disclosed immovable property transaction. Where the assessee has disclosed the sale consideration in the return and the revenue does not independently verify or rebut the third-party confirmation, an addition as unexplained cash credit cannot be sustained merely because the agreement does not reflect a cash component. A section 68 addition also fails where there is no proper correlation between the alleged unexplained cash credit and the actual bank deposits. en-us Thu, 09 Apr 2026 00:00:00 +0530 Sat, 25 Apr 2026 08:51:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790468 Contemporaneous acknowledgements, purchaser confirmation and evidence of direct payment to the developer can satisfactorily explain bank cash deposits arising from a disclosed immovable property transaction. Where the assessee has disclosed the sale consideration in the return and the revenue does not independently verify or rebut the third-party confirmation, an addition as unexplained cash credit cannot be sustained merely because the agreement does not reflect a cash component. A section 68 addition also fails where there is no proper correlation between the alleged unexplained cash credit and the actual bank deposits. Case-Laws Income Tax Thu, 09 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790468