https://www.taxtmi.com/caselaws?id=429466 The Tribunal allowed the appeal, setting aside the Commissioner's decision and deleting the addition of Rs.11,17,300 under section 69A of the Income Tax Act, 1961. The Tribunal accepted the retired Government employee's explanation for the cash deposits, considering the cash withdrawals during a specific period, which aligned with the source of the deposited cash. The judgment emphasized the need to evaluate the entirety of the taxpayer's financial activities and situation to ascertain the legitimacy of cash deposits, particularly during exceptional events such as demonetization. en-us Tue, 20 Sep 2022 00:00:00 +0530 Sat, 29 Oct 2022 09:18:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429466 The Tribunal allowed the appeal, setting aside the Commissioner's decision and deleting the addition of Rs.11,17,300 under section 69A of the Income Tax Act, 1961. The Tribunal accepted the retired Government employee's explanation for the cash deposits, considering the cash withdrawals during a specific period, which aligned with the source of the deposited cash. The judgment emphasized the need to evaluate the entirety of the taxpayer's financial activities and situation to ascertain the legitimacy of cash deposits, particularly during exceptional events such as demonetization. Case-Laws Income Tax Tue, 20 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429466