https://www.taxtmi.com/caselaws?id=773365 The ITAT Ahmedabad allowed the assessee's appeal regarding unexplained money under section 69A for cash deposits during demonetization. The assessee claimed deposits were from earlier cash withdrawals during the assessment year. The tribunal held that the department failed to demonstrate any specific expenditure or circumstance showing the withdrawn cash was unavailable for redeposit. Following precedents from Sudhirbhai Pravinkant Thake and Baldev Raj Charla cases, the tribunal ruled that sufficient cash withdrawals covering the deposits, despite time gaps, provided adequate explanation for the source of deposits. en-us Wed, 18 Jun 2025 00:00:00 +0530 Sat, 21 Jun 2025 08:29:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773365 The ITAT Ahmedabad allowed the assessee's appeal regarding unexplained money under section 69A for cash deposits during demonetization. The assessee claimed deposits were from earlier cash withdrawals during the assessment year. The tribunal held that the department failed to demonstrate any specific expenditure or circumstance showing the withdrawn cash was unavailable for redeposit. Following precedents from Sudhirbhai Pravinkant Thake and Baldev Raj Charla cases, the tribunal ruled that sufficient cash withdrawals covering the deposits, despite time gaps, provided adequate explanation for the source of deposits. Case-Laws Income Tax Wed, 18 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773365