https://www.taxtmi.com/caselaws?id=770233 ITAT Delhi allowed the assessee's appeal and deleted the addition under section 69A for unexplained cash deposits during demonetization. The tribunal held that cash deposits primarily from agricultural land sales were not properly considered by CIT(A). Following precedents including Chandralekha Vashishtha and Nita Taneja cases, the tribunal ruled that mere cash deposits post-demonetization cannot be treated as unexplained income unless the AO establishes the assessee diverted declared income for other purposes, leaving no legitimate cash in hand at deposit time. en-us Wed, 30 Apr 2025 00:00:00 +0530 Thu, 08 May 2025 09:13:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770233 ITAT Delhi allowed the assessee's appeal and deleted the addition under section 69A for unexplained cash deposits during demonetization. The tribunal held that cash deposits primarily from agricultural land sales were not properly considered by CIT(A). Following precedents including Chandralekha Vashishtha and Nita Taneja cases, the tribunal ruled that mere cash deposits post-demonetization cannot be treated as unexplained income unless the AO establishes the assessee diverted declared income for other purposes, leaving no legitimate cash in hand at deposit time. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770233