https://www.taxtmi.com/caselaws?id=444221 The Tribunal allowed the appeal of the assessee, a non-resident, regarding the addition of demonetized cash deposits. Initially, the AO treated Rs. 15.08 lakhs as unexplained income, but the CIT(A) reduced this to Rs. 7.54 lakhs. Upon appeal, the Tribunal accepted the assessee's explanation, particularly noting prior family withdrawals, and deleted the remaining addition. This decision underscores the Tribunal's acceptance of the assessee's justification for the cash deposits, leading to the full allowance of the appeal. en-us Fri, 16 Jun 2023 00:00:00 +0530 Wed, 11 Oct 2023 08:42:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444221 The Tribunal allowed the appeal of the assessee, a non-resident, regarding the addition of demonetized cash deposits. Initially, the AO treated Rs. 15.08 lakhs as unexplained income, but the CIT(A) reduced this to Rs. 7.54 lakhs. Upon appeal, the Tribunal accepted the assessee's explanation, particularly noting prior family withdrawals, and deleted the remaining addition. This decision underscores the Tribunal's acceptance of the assessee's justification for the cash deposits, leading to the full allowance of the appeal. Case-Laws Income Tax Fri, 16 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444221