https://www.taxtmi.com/caselaws?id=772672 ITAT ruled in favor of assessee regarding cash deposits during demonetization period. The assessee had substantial declared income and provided complete details of cash withdrawals from bank with specific purposes. Revenue failed to prove cash withdrawals were used for other purposes. ITAT held assessee had sufficient cash balance to explain deposits, finding them properly explained. No addition warranted under Section 69A read with Section 115BBE. Assessee's grounds allowed. en-us Wed, 09 Apr 2025 00:00:00 +0530 Tue, 10 Jun 2025 18:17:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772672 ITAT ruled in favor of assessee regarding cash deposits during demonetization period. The assessee had substantial declared income and provided complete details of cash withdrawals from bank with specific purposes. Revenue failed to prove cash withdrawals were used for other purposes. ITAT held assessee had sufficient cash balance to explain deposits, finding them properly explained. No addition warranted under Section 69A read with Section 115BBE. Assessee's grounds allowed. Case-Laws Income Tax Wed, 09 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772672