https://www.taxtmi.com/caselaws?id=773972 ITAT Pune allowed the assessee's appeal regarding unexplained cash deposits during demonetization. The assessee maintained regular books showing cash balance of Rs. 43,49,428/- as on 24.10.2016 against opening balance of Rs. 35,965/-. The AO had invoked section 115BBE while CIT(A) provided 50% relief. ITAT found the cash deposits were adequately explained through regular books of account and bank withdrawals, noting the cash balance was sufficient to cover the deposits. The tribunal deleted the entire addition, concluding the assessee successfully explained the source of cash deposits. en-us Mon, 16 Jun 2025 00:00:00 +0530 Tue, 01 Jul 2025 08:47:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773972 ITAT Pune allowed the assessee's appeal regarding unexplained cash deposits during demonetization. The assessee maintained regular books showing cash balance of Rs. 43,49,428/- as on 24.10.2016 against opening balance of Rs. 35,965/-. The AO had invoked section 115BBE while CIT(A) provided 50% relief. ITAT found the cash deposits were adequately explained through regular books of account and bank withdrawals, noting the cash balance was sufficient to cover the deposits. The tribunal deleted the entire addition, concluding the assessee successfully explained the source of cash deposits. Case-Laws Income Tax Mon, 16 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773972