https://www.taxtmi.com/caselaws?id=769929 ITAT Chennai held that cash deposits made in Specified Bank Notes (SBNs) during demonetization period from 24.11.2016 to 30.12.2016 cannot be treated as unexplained money under section 69A. The Tribunal noted lack of clarity in government notifications regarding SBN transactions during this period, as RBI permitted certain categories to deal with SBNs until 31.12.2016. Since the AO did not dispute that the assessee made unaccounted cash deposits, the addition under section 69A was deleted, following precedent in Tamil Nadu State Marketing Corporation Ltd case. en-us Wed, 30 Apr 2025 00:00:00 +0530 Sat, 03 May 2025 08:34:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769929 ITAT Chennai held that cash deposits made in Specified Bank Notes (SBNs) during demonetization period from 24.11.2016 to 30.12.2016 cannot be treated as unexplained money under section 69A. The Tribunal noted lack of clarity in government notifications regarding SBN transactions during this period, as RBI permitted certain categories to deal with SBNs until 31.12.2016. Since the AO did not dispute that the assessee made unaccounted cash deposits, the addition under section 69A was deleted, following precedent in Tamil Nadu State Marketing Corporation Ltd case. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769929