https://www.taxtmi.com/caselaws?id=313418 The ITAT Raipur allowed the assessee's appeal regarding addition under Section 69A for cash deposits made during demonetization. The assessee contended that cash deposits in bank accounts on 29.11.2016 were recorded in books of accounts, thus Section 69A provisions were inapplicable. The tribunal found that lower authorities failed to verify the authenticity of cash books before treating deposits as unexplained money. The matter was remanded to the AO for re-adjudication after proper verification of the assessee's explanation regarding the source of cash deposits. en-us Fri, 16 Dec 2022 00:00:00 +0530 Fri, 12 Apr 2024 17:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313418 The ITAT Raipur allowed the assessee's appeal regarding addition under Section 69A for cash deposits made during demonetization. The assessee contended that cash deposits in bank accounts on 29.11.2016 were recorded in books of accounts, thus Section 69A provisions were inapplicable. The tribunal found that lower authorities failed to verify the authenticity of cash books before treating deposits as unexplained money. The matter was remanded to the AO for re-adjudication after proper verification of the assessee's explanation regarding the source of cash deposits. Case-Laws Income Tax Fri, 16 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313418