https://www.taxtmi.com/caselaws?id=799045 Repeated cash deposits followed by similar self-withdrawals and redeposits may establish circulation of the same funds, requiring unexplained-money additions to be computed on the net peak credit rather than gross deposits. Opening cash balance, verified net agricultural receipts, and other disclosed income constitute explained sources and must be credited when determining any unexplained peak. Only the residual unexplained amount remains liable to addition. The amended tax-rate provision for unexplained income, effective from 1 April 2017, applies to Assessment Year 2017-18. en-us Mon, 14 Sep 2026 00:00:00 +0530 Wed, 16 Sep 2026 08:38:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799045 Repeated cash deposits followed by similar self-withdrawals and redeposits may establish circulation of the same funds, requiring unexplained-money additions to be computed on the net peak credit rather than gross deposits. Opening cash balance, verified net agricultural receipts, and other disclosed income constitute explained sources and must be credited when determining any unexplained peak. Only the residual unexplained amount remains liable to addition. The amended tax-rate provision for unexplained income, effective from 1 April 2017, applies to Assessment Year 2017-18. Case-Laws Income Tax Mon, 14 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799045