https://www.taxtmi.com/caselaws?id=459263 The Tribunal ruled in favor of the appellant, a firm engaged as a distributor of prepaid cards, by overturning the addition of Rs.46,000/- as unexplained income under section 69A of the Income Tax Act. The Tribunal found that the appellant was permitted to accept and deposit demonetized currency within the stipulated period, and the suspicion regarding the source of the deposit was unfounded. Consequently, the Tribunal allowed the appeal, deleted the impugned addition, and pronounced the order on 21st July 2022. en-us Thu, 21 Jul 2022 00:00:00 +0530 Fri, 06 Dec 2024 18:57:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459263 The Tribunal ruled in favor of the appellant, a firm engaged as a distributor of prepaid cards, by overturning the addition of Rs.46,000/- as unexplained income under section 69A of the Income Tax Act. The Tribunal found that the appellant was permitted to accept and deposit demonetized currency within the stipulated period, and the suspicion regarding the source of the deposit was unfounded. Consequently, the Tribunal allowed the appeal, deleted the impugned addition, and pronounced the order on 21st July 2022. Case-Laws Income Tax Thu, 21 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459263