https://www.taxtmi.com/caselaws?id=445432 ITAT Hyderabad partly allowed the appeal regarding addition under section 69A for unexplained cash deposits during demonetization. The assessee, an elderly lady, deposited Rs. 25 lakhs and transferred it to her daughter's account. The tribunal noted her declared income over five years totaled Rs. 34 lakhs, indicating capacity to accumulate savings. However, considering practical expenses and lack of active banking prior to demonetization, the tribunal reduced the addition from Rs. 25 lakhs to Rs. 5 lakhs on estimation basis, deleting Rs. 20 lakhs from the assessment. en-us Wed, 19 Jul 2023 00:00:00 +0530 Wed, 08 Nov 2023 09:10:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445432 ITAT Hyderabad partly allowed the appeal regarding addition under section 69A for unexplained cash deposits during demonetization. The assessee, an elderly lady, deposited Rs. 25 lakhs and transferred it to her daughter's account. The tribunal noted her declared income over five years totaled Rs. 34 lakhs, indicating capacity to accumulate savings. However, considering practical expenses and lack of active banking prior to demonetization, the tribunal reduced the addition from Rs. 25 lakhs to Rs. 5 lakhs on estimation basis, deleting Rs. 20 lakhs from the assessment. Case-Laws Income Tax Wed, 19 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445432