Unexplained cash deposit claim failed where demonetisation-era savings explanation was accepted and section 69A addition was deleted.

Cash deposited during the demonetisation period was held not to be unexplained under section 69A where the assessee explained that it came from accumulated savings of the assessee and family members kept in old currency notes. The tribunal treated the amount as nominal on the facts and found no basis to reject the explanation merely because further details were not produced. On that footing, the addition under section 69A was deleted and relief was granted to the assessee.

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Issues: Whether the cash deposit of Rs. 2,00,000 during the demonetisation period could be treated as unexplained under section 69A.

Analysis: The deposit was explained as arising from accumulated savings of the assessee and family members in old currency notes. The amount was considered nominal in the facts of the case, and there was no justification to reject the explanation merely for want of further details.

Conclusion: The addition under section 69A was deleted and relief was granted to the assessee.

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