https://www.taxtmi.com/caselaws?id=768670 ITAT Rajkot allowed the assessee's appeal partly in a case involving addition under section 69A for treating cash deposits as unexplained money. The assessee provided evidence for cash deposits but failed to prove personal expenditure and drawings from cash withdrawals, lacking proper reconciliation. The tribunal restricted the disallowance to 5% of Rs. 17,98,000, totaling Rs. 89,900, to be taxed at normal rates instead of section 115BBE. The AO was directed to recompute accordingly, with the adjudication not serving as precedent for other assessment years. en-us Tue, 11 Feb 2025 00:00:00 +0530 Fri, 11 Apr 2025 08:40:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768670 ITAT Rajkot allowed the assessee's appeal partly in a case involving addition under section 69A for treating cash deposits as unexplained money. The assessee provided evidence for cash deposits but failed to prove personal expenditure and drawings from cash withdrawals, lacking proper reconciliation. The tribunal restricted the disallowance to 5% of Rs. 17,98,000, totaling Rs. 89,900, to be taxed at normal rates instead of section 115BBE. The AO was directed to recompute accordingly, with the adjudication not serving as precedent for other assessment years. Case-Laws Income Tax Tue, 11 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768670