https://www.taxtmi.com/caselaws?id=755363 The ITAT Raipur ruled in favor of a 76-year-old retired gynecologist regarding a Rs. 10 lakh cash deposit made during demonetization on 16.11.2016. The assessee successfully explained that the deposit originated from accumulated cash savings kept in her SBI bank locker and cash withdrawals from her accounts during the year. The tribunal found the explanation credible, noting the assessee's consistent income tax filing history, substantial past income, and bank locker operation on the deposit date. The addition under Section 69A read with Section 115BBE was deleted as the cash deposit was adequately explained and sourced from legitimate past savings. en-us Mon, 08 Jul 2024 00:00:00 +0530 Thu, 11 Jul 2024 08:37:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755363 The ITAT Raipur ruled in favor of a 76-year-old retired gynecologist regarding a Rs. 10 lakh cash deposit made during demonetization on 16.11.2016. The assessee successfully explained that the deposit originated from accumulated cash savings kept in her SBI bank locker and cash withdrawals from her accounts during the year. The tribunal found the explanation credible, noting the assessee's consistent income tax filing history, substantial past income, and bank locker operation on the deposit date. The addition under Section 69A read with Section 115BBE was deleted as the cash deposit was adequately explained and sourced from legitimate past savings. Case-Laws Income Tax Mon, 08 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755363