https://www.taxtmi.com/caselaws?id=462804 ITAT Surat ruled on unexplained money under Section 69A regarding cash deposits during demonetization. The assessee failed to substantiate the source of Rs.10,50,000 cash deposit. Following CBDT Circular No. 3 of 2017, the tribunal allowed Rs.2,50,000 as per demonetization guidelines. Additionally, considering the assessee's regular income tax filings showing gross income exceeding Rs.6,00,000 in preceding years and accepted brokerage income, the tribunal granted benefit of Rs.1,50,000. Out of the total addition of Rs.10,50,000, Rs.4,00,000 was deleted and Rs.6,50,000 was sustained. The appeal was partly allowed. en-us Thu, 03 Oct 2024 00:00:00 +0530 Wed, 16 Jul 2025 23:42:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462804 ITAT Surat ruled on unexplained money under Section 69A regarding cash deposits during demonetization. The assessee failed to substantiate the source of Rs.10,50,000 cash deposit. Following CBDT Circular No. 3 of 2017, the tribunal allowed Rs.2,50,000 as per demonetization guidelines. Additionally, considering the assessee's regular income tax filings showing gross income exceeding Rs.6,00,000 in preceding years and accepted brokerage income, the tribunal granted benefit of Rs.1,50,000. Out of the total addition of Rs.10,50,000, Rs.4,00,000 was deleted and Rs.6,50,000 was sustained. The appeal was partly allowed. Case-Laws Income Tax Thu, 03 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462804