https://www.taxtmi.com/caselaws?id=765277 ITAT Mumbai remanded the case to AO for fresh examination regarding Rs. 3.05 crore addition under section 69A for unexplained cash deposits during demonetization. The tribunal found AO made addition based on suspicion without proper inquiry into assessee's claim of cash sales. While assessee failed to provide physical stock details initially, tribunal admitted stock summary as additional evidence, noting verification of physical stock availability was essential to examine cash sales claims. Matter remanded for proper verification of stock availability and cash sales claims. en-us Tue, 31 Dec 2024 00:00:00 +0530 Wed, 29 Jan 2025 09:00:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765277 ITAT Mumbai remanded the case to AO for fresh examination regarding Rs. 3.05 crore addition under section 69A for unexplained cash deposits during demonetization. The tribunal found AO made addition based on suspicion without proper inquiry into assessee's claim of cash sales. While assessee failed to provide physical stock details initially, tribunal admitted stock summary as additional evidence, noting verification of physical stock availability was essential to examine cash sales claims. Matter remanded for proper verification of stock availability and cash sales claims. Case-Laws Income Tax Tue, 31 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765277