https://www.taxtmi.com/caselaws?id=766391 ITAT Chandigarh allowed the assessee's appeal against addition under Section 69A for unexplained cash deposits. The assessee successfully demonstrated that cash deposits of Rs. 84,944 originated from earlier withdrawals from bank accounts and savings from previous income. The tribunal found that the assessee adequately explained and proved the source of cash deposits, concluding that lower authorities incorrectly treated these deposits as unexplained investments. The addition made under Section 69A was therefore deleted as the source was satisfactorily established through proper documentation of earlier withdrawals. en-us Thu, 20 Feb 2025 00:00:00 +0530 Mon, 24 Feb 2025 10:32:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766391 ITAT Chandigarh allowed the assessee's appeal against addition under Section 69A for unexplained cash deposits. The assessee successfully demonstrated that cash deposits of Rs. 84,944 originated from earlier withdrawals from bank accounts and savings from previous income. The tribunal found that the assessee adequately explained and proved the source of cash deposits, concluding that lower authorities incorrectly treated these deposits as unexplained investments. The addition made under Section 69A was therefore deleted as the source was satisfactorily established through proper documentation of earlier withdrawals. Case-Laws Income Tax Thu, 20 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766391