https://www.taxtmi.com/caselaws?id=449681 ITAT Surat allowed the assessee's appeal against addition under section 69A for unexplained cash deposits during demonetization. The court held that the AO arbitrarily rejected documentary evidence without providing reasons or identifying defects. The AO failed to discuss submitted evidences and brushed aside explanations based on mere surmises. Since the assessee provided all possible supporting evidence, the addition was deleted as the AO cannot reject explanations without proper justification. en-us Wed, 14 Feb 2024 00:00:00 +0530 Fri, 16 Feb 2024 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449681 ITAT Surat allowed the assessee's appeal against addition under section 69A for unexplained cash deposits during demonetization. The court held that the AO arbitrarily rejected documentary evidence without providing reasons or identifying defects. The AO failed to discuss submitted evidences and brushed aside explanations based on mere surmises. Since the assessee provided all possible supporting evidence, the addition was deleted as the AO cannot reject explanations without proper justification. Case-Laws Income Tax Wed, 14 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449681