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The ITAT held that the addition under section 69A for cash deposits during demonetization was not justified. The AO and CIT(A) failed to conduct proper verification of the affidavits provided by the assessee's parents, which explained the source of the deposits. The burden of proof is on the revenue to establish the deposits as the assessee's income. The authorities did not fulfill their duty to investigate thoroughly. The absence of proof of agricultural income was not addressed adequately. The ITAT directed the AO to delete the addition under section 69A in favor of the assessee.
The ITAT held that the addition under section 69A for cash deposits during demonetization was not justified. The AO and CIT(A) failed to conduct proper verification of the affidavits provided by the assessee's parents, which explained the source of the deposits. The burden of proof is on the revenue to establish the deposits as the assessee's income. The authorities did not fulfill their duty to investigate thoroughly. The absence of proof of agricultural income was not addressed adequately. The ITAT directed the AO to delete the addition under section 69A in favor of the assessee.
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