https://www.taxtmi.com/caselaws?id=470071 Cash deposits treated as unexplained money under Section 69A of the Income-tax Act, 1961 may be explained through evidence of earlier cash withdrawals and disclosed cash in hand. The material discussed included withdrawal records from earlier financial years, the closing cash balance as at 31 March 2016, and a wealth-tax return reflecting that balance. A proximate nexus between the earlier withdrawals and subsequent deposits, including deposits during the demonetisation period, was regarded as sufficient evidence of source. On the analysis presented, deletion of the Section 69A addition was considered justified because the deposits were satisfactorily linked to documented withdrawals and disclosed cash holdings. en-us Tue, 13 May 2025 00:00:00 +0530 Tue, 14 Jul 2026 19:02:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470071 Cash deposits treated as unexplained money under Section 69A of the Income-tax Act, 1961 may be explained through evidence of earlier cash withdrawals and disclosed cash in hand. The material discussed included withdrawal records from earlier financial years, the closing cash balance as at 31 March 2016, and a wealth-tax return reflecting that balance. A proximate nexus between the earlier withdrawals and subsequent deposits, including deposits during the demonetisation period, was regarded as sufficient evidence of source. On the analysis presented, deletion of the Section 69A addition was considered justified because the deposits were satisfactorily linked to documented withdrawals and disclosed cash holdings. Case-Laws Income Tax Tue, 13 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470071