https://www.taxtmi.com/caselaws?id=471251 Cash deposits during demonetisation may be satisfactorily explained by documented prior bank withdrawals and loans where the Revenue does not dispute the withdrawals or establish that the cash was used elsewhere. Mere passage of time between withdrawal and redeposit, or the obtaining of a later loan, does not by itself show that the withdrawn cash was unavailable. Treating deposits as unexplained money requires material disproving the stated source rather than presumptions about the cash's utilisation. On the stated facts, the explanation supported by prior withdrawals was sufficient, making an addition for unexplained money unsustainable. en-us Thu, 05 Sep 2024 00:00:00 +0530 Wed, 26 Aug 2026 21:12:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471251 Cash deposits during demonetisation may be satisfactorily explained by documented prior bank withdrawals and loans where the Revenue does not dispute the withdrawals or establish that the cash was used elsewhere. Mere passage of time between withdrawal and redeposit, or the obtaining of a later loan, does not by itself show that the withdrawn cash was unavailable. Treating deposits as unexplained money requires material disproving the stated source rather than presumptions about the cash's utilisation. On the stated facts, the explanation supported by prior withdrawals was sufficient, making an addition for unexplained money unsustainable. Case-Laws Income Tax Thu, 05 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471251