https://www.taxtmi.com/caselaws?id=796808 Cash deposits claimed to arise from inherited savings, agricultural income or prior remittance withdrawals require satisfactory, credible corroboration of their nature, source and availability at the time of deposit. An affidavit alone, without cash-flow details, agricultural or land records, receipt evidence, or proof that withdrawn funds remained available, does not establish the explanation; the deposit is consequently treated as unexplained money. An enhanced tax rate for unexplained income applies prospectively where the deposit predates the amendment's effective date and no retrospective operation is specified. Tax must therefore be computed under the law applicable when the deposit was made. en-us Mon, 03 Aug 2026 00:00:00 +0530 Tue, 11 Aug 2026 08:47:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796808 Cash deposits claimed to arise from inherited savings, agricultural income or prior remittance withdrawals require satisfactory, credible corroboration of their nature, source and availability at the time of deposit. An affidavit alone, without cash-flow details, agricultural or land records, receipt evidence, or proof that withdrawn funds remained available, does not establish the explanation; the deposit is consequently treated as unexplained money. An enhanced tax rate for unexplained income applies prospectively where the deposit predates the amendment's effective date and no retrospective operation is specified. Tax must therefore be computed under the law applicable when the deposit was made. Case-Laws Income Tax Mon, 03 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796808