https://www.taxtmi.com/caselaws?id=470054 Cash deposits claimed to represent proceeds of gold loans require reliable evidence linking the loans to the deposits. The analysis states that the assessee failed to file a return or provide an explanation and supporting material during reassessment proceedings. Gold loan certificates produced in appeal did not establish the dates or mode of disbursal, while sanction letters and other primary records were absent. The evidentiary burden to prove the source of the deposits therefore remained undischarged, and no additional material connected the deposits with the alleged loans. On that basis, the addition relating to the cash deposits was treated as sustainable against the assessee. en-us Thu, 13 Mar 2025 00:00:00 +0530 Tue, 14 Jul 2026 19:02:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470054 Cash deposits claimed to represent proceeds of gold loans require reliable evidence linking the loans to the deposits. The analysis states that the assessee failed to file a return or provide an explanation and supporting material during reassessment proceedings. Gold loan certificates produced in appeal did not establish the dates or mode of disbursal, while sanction letters and other primary records were absent. The evidentiary burden to prove the source of the deposits therefore remained undischarged, and no additional material connected the deposits with the alleged loans. On that basis, the addition relating to the cash deposits was treated as sustainable against the assessee. Case-Laws Income Tax Thu, 13 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470054