AdvertisementBangalore Nagaraj Vishwanath Vs ITO (ITAT Bangalore) Bangalore ITAT: Addition Cannot Be Based on Gross Cash Deposits Alone Without Examining Cash Withdrawals, Cash Flow and Explanation Bangalore ITAT deleted an addition of ₹60 lakh made towards unexplained cash deposits after holding that the assessee had satisfactorily explained the source of the deposits through documentary evidence. Assessing Officer had treated ₹60 lakh out of total cash deposits as unexplained, observing that the assessee had deposited ₹99.28 lakh in cash during the year. The assessee explained that ₹13 lakh repre...