https://www.taxtmi.com/caselaws?id=792434 Cash deposits in a bank account were examined under section 68, with the assessee offering inconsistent explanations and failing to produce supporting evidence before the lower authorities. A later claim that the deposits represented labour charges from gold ornament work was not substantiated by credible material, so the explanation was not accepted in full. However, in light of the surrounding facts and the nature of the deposits, the Tribunal accepted that some cash could reasonably have been available on hand. The addition was therefore sustained only partly, with a portion of the deposits treated as explained and the balance maintained. en-us Mon, 25 May 2026 00:00:00 +0530 Thu, 28 May 2026 08:21:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792434 Cash deposits in a bank account were examined under section 68, with the assessee offering inconsistent explanations and failing to produce supporting evidence before the lower authorities. A later claim that the deposits represented labour charges from gold ornament work was not substantiated by credible material, so the explanation was not accepted in full. However, in light of the surrounding facts and the nature of the deposits, the Tribunal accepted that some cash could reasonably have been available on hand. The addition was therefore sustained only partly, with a portion of the deposits treated as explained and the balance maintained. Case-Laws Income Tax Mon, 25 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792434