https://www.taxtmi.com/caselaws?id=765783 ITAT Surat ruled on unexplained cash credit under Section 69A involving a travel agent who deposited specified bank notes during demonetization on different dates without providing depositor details or correlating deposits with business services. The tribunal restricted addition to 20% of cash deposits to prevent revenue leakage, deleting remaining amount. Regarding Section 115BBE levy, ITAT held the amended provision is not retrospective, directing assessment officer to apply normal tax rates instead of higher rates under Section 115BBE. en-us Wed, 29 Jan 2025 00:00:00 +0530 Mon, 10 Feb 2025 07:50:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765783 ITAT Surat ruled on unexplained cash credit under Section 69A involving a travel agent who deposited specified bank notes during demonetization on different dates without providing depositor details or correlating deposits with business services. The tribunal restricted addition to 20% of cash deposits to prevent revenue leakage, deleting remaining amount. Regarding Section 115BBE levy, ITAT held the amended provision is not retrospective, directing assessment officer to apply normal tax rates instead of higher rates under Section 115BBE. Case-Laws Income Tax Wed, 29 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765783