https://www.taxtmi.com/caselaws?id=469971 Where bank deposits are explained as business receipts and ATM withdrawals but no books of account are maintained, the unexplained-money addition need not be sustained in full if the explanation is not specifically rebutted. On the available facts, the income element was estimated at 12% of the total bank deposits instead of treating the whole credit as unexplained. The addition was therefore restricted to estimated income of Rs. 5,35,215, and the balance was deleted, giving partial relief to the assessee. en-us Wed, 12 Mar 2025 00:00:00 +0530 Fri, 10 Jul 2026 22:36:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469971 Where bank deposits are explained as business receipts and ATM withdrawals but no books of account are maintained, the unexplained-money addition need not be sustained in full if the explanation is not specifically rebutted. On the available facts, the income element was estimated at 12% of the total bank deposits instead of treating the whole credit as unexplained. The addition was therefore restricted to estimated income of Rs. 5,35,215, and the balance was deleted, giving partial relief to the assessee. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469971