https://www.taxtmi.com/caselaws?id=776652 The ITAT Ahmedabad held that the addition under section 69A for cash deposits in the bank account was not justified as the assessee substantiated the deposits through financial statements and CST returns showing total sales of Rs. 22,54,232 for FY 2011-12. The AO failed to disprove the sales turnover or prove the cash was from an unexplained source. The assessee's turnover matched VAT returns and accounts, and the bank account was disclosed in the balance sheet. The Tribunal also noted that under section 44AD presumptive taxation, taxing the entire cash deposits separately under section 69A leads to double taxation unless extraneous sources are shown, which the AO did not. The addition under section 69A was therefore unsustainable, and the appeal was allowed. en-us Tue, 12 Aug 2025 00:00:00 +0530 Thu, 14 Aug 2025 08:26:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776652 The ITAT Ahmedabad held that the addition under section 69A for cash deposits in the bank account was not justified as the assessee substantiated the deposits through financial statements and CST returns showing total sales of Rs. 22,54,232 for FY 2011-12. The AO failed to disprove the sales turnover or prove the cash was from an unexplained source. The assessee's turnover matched VAT returns and accounts, and the bank account was disclosed in the balance sheet. The Tribunal also noted that under section 44AD presumptive taxation, taxing the entire cash deposits separately under section 69A leads to double taxation unless extraneous sources are shown, which the AO did not. The addition under section 69A was therefore unsustainable, and the appeal was allowed. Case-Laws Income Tax Tue, 12 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776652