https://www.taxtmi.com/caselaws?id=471066 Cash deposits assessed as unexplained income under Section 68 were supported by a cash-flow statement, prior income records, loan documents, bank records, household and education expense evidence, and the spouse's returns. The available material established an opening cash balance, while the balance of the deposits was explained through the assessee's, spouse's and agricultural income. An opening cash balance brought forward from an earlier year cannot be taxed in the relevant year. Where supporting evidence is not specifically rebutted, the entire cash deposit cannot be treated as unexplained on surmises and conjectures; the addition was therefore deleted. en-us Tue, 01 Apr 2025 00:00:00 +0530 Wed, 19 Aug 2026 18:58:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471066 Cash deposits assessed as unexplained income under Section 68 were supported by a cash-flow statement, prior income records, loan documents, bank records, household and education expense evidence, and the spouse's returns. The available material established an opening cash balance, while the balance of the deposits was explained through the assessee's, spouse's and agricultural income. An opening cash balance brought forward from an earlier year cannot be taxed in the relevant year. Where supporting evidence is not specifically rebutted, the entire cash deposit cannot be treated as unexplained on surmises and conjectures; the addition was therefore deleted. Case-Laws Income Tax Tue, 01 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471066