Addition of cash deposits unsustainable if reasonable & plausible explanation given

Gagandeep Singh Bakshi Vs ITO (ITAT Pune) ITAT Pune held that addition on account of cash deposits unsustainable as reasonable and plausible explanation given by the assessee. Facts- The appellant is an individual deriving income under the head “salaries”, “capital gain” and “income from other sources”. ROI for A.Y. 2014-15 was filed on 02.07.2014 declaring total income of Rs.6,66,050/-. Against the said ROI, the assessment was completed ex-parte by the Assessing Officer passed u/s 144 of the Income Tax Act, 1961 after making addition on account of unexplained cash deposits in the ...