https://www.taxtmi.com/caselaws?id=757530 ITAT Ahmedabad held that addition under Section 69A was wrongly invoked by AO regarding cash deposits during demonetization period. The tribunal found that since the assessee had properly recorded the cash deposits in books of accounts and maintained source documentation, Section 69A provisions were not applicable. Section 69A applies only when money/valuables are not recorded in books and explanations are unsatisfactory. The AO's addition and tax charge under Section 115BBE were deleted, deciding in favor of the assessee. en-us Thu, 22 Aug 2024 00:00:00 +0530 Mon, 16 Dec 2024 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757530 ITAT Ahmedabad held that addition under Section 69A was wrongly invoked by AO regarding cash deposits during demonetization period. The tribunal found that since the assessee had properly recorded the cash deposits in books of accounts and maintained source documentation, Section 69A provisions were not applicable. Section 69A applies only when money/valuables are not recorded in books and explanations are unsatisfactory. The AO's addition and tax charge under Section 115BBE were deleted, deciding in favor of the assessee. Case-Laws Income Tax Thu, 22 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757530