https://www.taxtmi.com/caselaws?id=754517 ITAT (Visakhapatnam) allowed the assessee's appeal, directing the AO to delete additions under section 69A for unexplained cash deposits during the demonetization period. The Tribunal found the investments were disclosed in the books and in the computation of income and offered to tax, so provisions of s.69A could not be invoked. The decision followed earlier Tribunal precedent holding s.69 inapplicable where investments are recorded and taxed, and rejected the CIT(A)-NFAC's view that book cash balances alone warranted additions. en-us Wed, 31 Jan 2024 00:00:00 +0530 Wed, 01 Oct 2025 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754517 ITAT (Visakhapatnam) allowed the assessee's appeal, directing the AO to delete additions under section 69A for unexplained cash deposits during the demonetization period. The Tribunal found the investments were disclosed in the books and in the computation of income and offered to tax, so provisions of s.69A could not be invoked. The decision followed earlier Tribunal precedent holding s.69 inapplicable where investments are recorded and taxed, and rejected the CIT(A)-NFAC's view that book cash balances alone warranted additions. Case-Laws Income Tax Wed, 31 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754517