https://www.taxtmi.com/caselaws?id=791993 Cash deposits were held not to be assessable as unexplained money under section 69A where the assessee, assessed under the presumptive scheme and not maintaining regular books, offered a plausible explanation based on past savings and business receipts. The absence of a cash book was not, by itself, enough to reject that explanation on the facts. The direction to initiate penalty proceedings under section 270A was also set aside as premature and infructuous because no enhancement of income was made by the appellate authority and the underlying addition itself did not survive. en-us Fri, 15 May 2026 00:00:00 +0530 Thu, 21 May 2026 08:30:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791993 Cash deposits were held not to be assessable as unexplained money under section 69A where the assessee, assessed under the presumptive scheme and not maintaining regular books, offered a plausible explanation based on past savings and business receipts. The absence of a cash book was not, by itself, enough to reject that explanation on the facts. The direction to initiate penalty proceedings under section 270A was also set aside as premature and infructuous because no enhancement of income was made by the appellate authority and the underlying addition itself did not survive. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791993