https://www.taxtmi.com/caselaws?id=793283 Cash deposits were held not to justify an addition under section 68 where the assessee showed that identical sums had been withdrawn from the same bank account a few days earlier and recorded in the cash book. The Tribunal accepted that the cash balance existed before redeposit and noted that the Assessing Officer produced no contrary material to show the money had been spent elsewhere or that the books were unreliable. Mere suspicion about the deposit pattern was insufficient to discredit the explanation, so the addition for unexplained cash credits was deleted. en-us Fri, 22 May 2026 00:00:00 +0530 Fri, 12 Jun 2026 08:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793283 Cash deposits were held not to justify an addition under section 68 where the assessee showed that identical sums had been withdrawn from the same bank account a few days earlier and recorded in the cash book. The Tribunal accepted that the cash balance existed before redeposit and noted that the Assessing Officer produced no contrary material to show the money had been spent elsewhere or that the books were unreliable. Mere suspicion about the deposit pattern was insufficient to discredit the explanation, so the addition for unexplained cash credits was deleted. Case-Laws Income Tax Fri, 22 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793283