https://www.taxtmi.com/caselaws?id=767376 ITAT Chennai dismissed Revenue's appeal regarding addition under section 69A for unexplained cash deposits in assessee's bank accounts. The court held that AO failed to examine whether withdrawals were utilized for personal benefit and proceeded to add entire cash deposits as income without proper verification. CIT(A) correctly noted absence of evidence to treat entire deposits as taxable income. Assessee had declared income increase from Rs. 7,72,241 to Rs. 31,51,430 in response to section 148 notice, covering salary, business and other sources. ITAT upheld CIT(A)'s order deleting the addition. en-us Wed, 12 Mar 2025 00:00:00 +0530 Mon, 17 Mar 2025 07:42:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767376 ITAT Chennai dismissed Revenue's appeal regarding addition under section 69A for unexplained cash deposits in assessee's bank accounts. The court held that AO failed to examine whether withdrawals were utilized for personal benefit and proceeded to add entire cash deposits as income without proper verification. CIT(A) correctly noted absence of evidence to treat entire deposits as taxable income. Assessee had declared income increase from Rs. 7,72,241 to Rs. 31,51,430 in response to section 148 notice, covering salary, business and other sources. ITAT upheld CIT(A)'s order deleting the addition. Case-Laws Income Tax Wed, 12 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767376