https://www.taxtmi.com/caselaws?id=793156 Cash deposits made during the demonetisation period were treated as prima facie explained where the assessee produced bank statements showing earlier cash withdrawals from the same disclosed account, and the Revenue did not dispute those withdrawals. In the absence of material showing that the withdrawn cash had been spent elsewhere or was unavailable at the time of redeposit, the source of the deposits was not treated as unexplained. A mere time gap between withdrawal and redeposit, or a minor variation in the explanation, was insufficient to sustain an addition when documentary evidence supported the assessee's version. On those facts, the section 68 addition was deleted. en-us Tue, 03 Mar 2026 00:00:00 +0530 Wed, 10 Jun 2026 07:26:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793156 Cash deposits made during the demonetisation period were treated as prima facie explained where the assessee produced bank statements showing earlier cash withdrawals from the same disclosed account, and the Revenue did not dispute those withdrawals. In the absence of material showing that the withdrawn cash had been spent elsewhere or was unavailable at the time of redeposit, the source of the deposits was not treated as unexplained. A mere time gap between withdrawal and redeposit, or a minor variation in the explanation, was insufficient to sustain an addition when documentary evidence supported the assessee's version. On those facts, the section 68 addition was deleted. Case-Laws Income Tax Tue, 03 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793156