https://www.taxtmi.com/caselaws?id=773523 ITAT upheld addition of Rs. 9,46,500/- under Section 69A for unexplained cash deposits during demonetization, rejecting assessee's claim that deposits were from earlier withdrawals. Tribunal found explanation unconvincing as retired person's behavior of frequent withdrawals despite substantial cash-in-hand was against normal human conduct. However, ITAT deleted Rs. 9,00,000/- from total addition, accepting withdrawals made just before demonetization. Enhanced tax rate under Section 115BBE was held inapplicable for AY 2017-18 following established precedents. Appeal partly allowed. en-us Thu, 19 Jun 2025 00:00:00 +0530 Tue, 24 Jun 2025 08:25:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773523 ITAT upheld addition of Rs. 9,46,500/- under Section 69A for unexplained cash deposits during demonetization, rejecting assessee's claim that deposits were from earlier withdrawals. Tribunal found explanation unconvincing as retired person's behavior of frequent withdrawals despite substantial cash-in-hand was against normal human conduct. However, ITAT deleted Rs. 9,00,000/- from total addition, accepting withdrawals made just before demonetization. Enhanced tax rate under Section 115BBE was held inapplicable for AY 2017-18 following established precedents. Appeal partly allowed. Case-Laws Income Tax Thu, 19 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773523