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of <h1>No unexplained addition under s.69A where demonetisation cash deposits matched tuition income, past earnings, opening balance and gifts.</h1> ITAT held that additions under s.69A were unwarranted where cash deposits during demonetisation represented regular tuition income, past earnings, an ... Addition u/s 69A - assessee had deposited cash into the bank account with Indusind Bank during the demonetization period - HELD THAT:- Cash was deposited out of regular tuition income of the assessee which was earned in the year under consideration as well as in past. Moreover, the assessee solemnized and received an amount of Rs. 3.5 lakhs on the occasion of marriage. The assessee filed detailed accounts as well as affidavit to substantiate the claim. Before us the Ld. AR reiterated the arguments taken up before the revenue authorities and the Ld. DR relied on the orders of the authorities below. The assessee have also opening balance of cash the fact of which is also not in dispute. Keeping in view the opening balance of cash, the tuition income and the marriage gifts we hold that no addition u/s.69A is called for in the case of the assessee. Appeal of the assessee is allowed. Assessee, an individual with professional (tuition) income, filed return for AY 2017-18 reporting total income of Rs. 3,04,500. AO observed cash deposits of Rs. 10,09,750 into IndusInd Bank during the demonetisation period and, in absence of explanation, made an addition of Rs. 10,09,750 under section 69A by assessment order dated 25.11.2019. On appeal, assessee claimed deposits derived from regular tuition receipts, an opening cash balance of Rs. 5,16,400 and wedding gifts of Rs. 3.5 lakhs, producing accounts and an affidavit. CIT(A) upheld the addition and applied higher tax rate under section 115BBE; assessee contended lack of specific show-cause for s.115BBE and sought opportunity to produce additional evidence. Tribunal found that, 'keeping in view the opening balance of cash, the tuition income and the marriage gifts we hold that no addition u/s.69A is called for in the case of the assessee,' and allowed the appeal.
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