https://www.taxtmi.com/caselaws?id=430041 The Tribunal allowed the assessee's appeal, deleting the addition made by the Assessing Officer under Section 69A of the Income Tax Act. The Tribunal found that the assessee had adequately explained the cash deposits during the demonetization period through detailed submissions and evidence of business receipts. It concluded that the cash deposits were not abnormal considering the pre- and post-demonetization periods, and the genuineness of the transactions was established. Consequently, the Tribunal directed the deletion of the addition, ruling in favor of the assessee on 17th October 2022. en-us Mon, 17 Oct 2022 00:00:00 +0530 Thu, 10 Nov 2022 09:06:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430041 The Tribunal allowed the assessee's appeal, deleting the addition made by the Assessing Officer under Section 69A of the Income Tax Act. The Tribunal found that the assessee had adequately explained the cash deposits during the demonetization period through detailed submissions and evidence of business receipts. It concluded that the cash deposits were not abnormal considering the pre- and post-demonetization periods, and the genuineness of the transactions was established. Consequently, the Tribunal directed the deletion of the addition, ruling in favor of the assessee on 17th October 2022. Case-Laws Income Tax Mon, 17 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430041