https://www.taxtmi.com/caselaws?id=471586 NRE fixed deposits established through bank certificates and an affidavit as renewals of pre-existing deposits cannot be treated as separate unexplained investments without supporting material. Once the accepted source of the deposits is demonstrated, the Department must produce evidence of any distinct further investment; the taxpayer has no obligation to explain an unsubstantiated additional amount. The addition under Section 69 was deleted because no material showed that the renewed deposits represented fresh unexplained investment. en-us Tue, 08 Apr 2025 00:00:00 +0530 Wed, 09 Sep 2026 19:00:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471586 NRE fixed deposits established through bank certificates and an affidavit as renewals of pre-existing deposits cannot be treated as separate unexplained investments without supporting material. Once the accepted source of the deposits is demonstrated, the Department must produce evidence of any distinct further investment; the taxpayer has no obligation to explain an unsubstantiated additional amount. The addition under Section 69 was deleted because no material showed that the renewed deposits represented fresh unexplained investment. Case-Laws Income Tax Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471586