https://www.taxtmi.com/caselaws?id=791735 Banking records showing the trail of funds can rebut an addition for unexplained income under section 69. The assessee supported the cash payment of LIC premium with his and his father's bank statements, showing withdrawal from the assessee's NRE account, transfer to the father's account, prior available balance, and later cash withdrawal for the premium. The Tribunal found that this contemporaneous evidence was not properly appreciated by the lower authorities and that the explanation was not a bare assertion. On that basis, the source of the cash payment was treated as explained and the addition as unexplained income was deleted. en-us Fri, 17 Apr 2026 00:00:00 +0530 Sat, 16 May 2026 09:09:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791735 Banking records showing the trail of funds can rebut an addition for unexplained income under section 69. The assessee supported the cash payment of LIC premium with his and his father's bank statements, showing withdrawal from the assessee's NRE account, transfer to the father's account, prior available balance, and later cash withdrawal for the premium. The Tribunal found that this contemporaneous evidence was not properly appreciated by the lower authorities and that the explanation was not a bare assertion. On that basis, the source of the cash payment was treated as explained and the addition as unexplained income was deleted. Case-Laws Income Tax Fri, 17 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791735