Addition for cash deposits only if source of deposits remains unexplained

Rajesh Madanlal Partani Vs ACIT (ITAT Pune) Addition on account of cash deposits can be made only if the source of the deposits remains unexplained Addition on account of cash deposits can be made only if the source of the deposits remains unexplained. If, on the other hand, the cash deposits in the bank are from the regular books of account maintained by the assessee, then such transactions cannot be said to be unexplained. The ld. AR has taken the argument that the said bank account is part of the assessee’s regular books of account which was reflected in the balance sheet prior to the dat...