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Addition made u/s. 69A - unexplained cash deposits - The Tribunal found merit in the assessee's argument that the cash on hand at the beginning of the financial year could reasonably explain the subsequent deposits during demonetization. - The Tribunal highlighted that previous judicial decisions have supported the notion that mere time gaps between cash withdrawals and deposits are not sufficient grounds for additions under Sec. 69A if the assessee provides a coherent trail of the cash flow.
Addition made u/s. 69A - unexplained cash deposits - The Tribunal found merit in the assessee's argument that the cash on hand at the beginning of the financial year could reasonably explain the subsequent deposits during demonetization. - The Tribunal highlighted that previous judicial decisions have supported the notion that mere time gaps between cash withdrawals and deposits are not sufficient grounds for additions under Sec. 69A if the assessee provides a coherent trail of the cash flow.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
