https://www.taxtmi.com/caselaws?id=754516 The ITAT allowed the appeal, setting aside the addition of cash deposits as unexplained money under section 69A of the Act. The Tribunal found that the appellant, a public trust, had adequately explained the cash deposits during the demonetization period with sufficient evidence, including bank statements and audit records, demonstrating proper recording of transactions. The Tribunal concluded that the Assessing Officer and CIT(A) erred in their assessment, and the appellant's explanations were legitimate, thus nullifying the addition. en-us Wed, 24 Jan 2024 00:00:00 +0530 Tue, 25 Jun 2024 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754516 The ITAT allowed the appeal, setting aside the addition of cash deposits as unexplained money under section 69A of the Act. The Tribunal found that the appellant, a public trust, had adequately explained the cash deposits during the demonetization period with sufficient evidence, including bank statements and audit records, demonstrating proper recording of transactions. The Tribunal concluded that the Assessing Officer and CIT(A) erred in their assessment, and the appellant's explanations were legitimate, thus nullifying the addition. Case-Laws Income Tax Wed, 24 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754516