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<h1>ITAT Ahmedabad-C overturns Rs. 58,000 income addition, accepts explanation on high denomination notes.</h1> The ITAT Ahmedabad-C allowed the appeal of the assessee, overturning the addition of Rs. 58,000 to income. The tribunal accepted the assessee's ... - The ITAT Ahmedabad-C allowed the appeal of the assessee regarding the addition of Rs. 58,000 to income. The addition was made due to disclosure of high denomination notes exchanged by the assessee, but the tribunal accepted the assessee's explanation that proof of exchange was not necessary as the notes were legal tender. The appeal was allowed.