https://www.taxtmi.com/caselaws?id=764259 ITAT Kolkata ruled in favor of assessee regarding cash deposits during demonetization period. AO made addition under section 69A read with section 115BBE, but tribunal found addition based on surmises without evidence. Assessee, being authorized TVS Motor dealer, maintained proper books showing regular cash sales for years with quantitative details and VAT returns. Since books were not rejected and no unrecorded sales were proven, tribunal held assessee successfully explained source of cash deposits from regular business operations. Addition under sections 69A and 115BBE was deleted. en-us Wed, 16 Oct 2024 00:00:00 +0530 Tue, 07 Jan 2025 07:56:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764259 ITAT Kolkata ruled in favor of assessee regarding cash deposits during demonetization period. AO made addition under section 69A read with section 115BBE, but tribunal found addition based on surmises without evidence. Assessee, being authorized TVS Motor dealer, maintained proper books showing regular cash sales for years with quantitative details and VAT returns. Since books were not rejected and no unrecorded sales were proven, tribunal held assessee successfully explained source of cash deposits from regular business operations. Addition under sections 69A and 115BBE was deleted. Case-Laws Income Tax Wed, 16 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764259