https://www.taxtmi.com/caselaws?id=456026 ITAT Delhi held that section 69A addition for unexplained money based on bank account credit entries was unsustainable. The non-resident assessee was not obliged to maintain books of account in India, with only interest income from bank accounts and tax refunds. Even treating bank statements as books of account, section 69A was inapplicable as transactions were properly recorded. The assessee adequately explained each credit entry's source in NRO/NRE accounts. Commissioner (Appeals) improperly rejected additional evidence on flimsy grounds. Cash deposits were acceptably explained as originating from earlier withdrawals given their proximity. Appeal allowed. en-us Thu, 13 Apr 2023 00:00:00 +0530 Mon, 03 Feb 2025 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456026 ITAT Delhi held that section 69A addition for unexplained money based on bank account credit entries was unsustainable. The non-resident assessee was not obliged to maintain books of account in India, with only interest income from bank accounts and tax refunds. Even treating bank statements as books of account, section 69A was inapplicable as transactions were properly recorded. The assessee adequately explained each credit entry's source in NRO/NRE accounts. Commissioner (Appeals) improperly rejected additional evidence on flimsy grounds. Cash deposits were acceptably explained as originating from earlier withdrawals given their proximity. Appeal allowed. Case-Laws Income Tax Thu, 13 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456026