https://www.taxtmi.com/caselaws?id=778069 ITAT, Chennai set aside the CIT(A) order and deleted most additions under section 69A relating to specified bank notes, holding the AO failed to properly analyze the assessee's business model, books, sales, stock and debtor realisations per CBDT guidance; there was no significant change in cash deposits during demonetisation and records showed adequate stock and matching purchases/sales. The Tribunal held Rs. 1,24,80,084 of bank credits explained; only Rs. 18,21,853 remained unexplained, and an estimation at 8% on that balance was confirmed. en-us Wed, 15 Jan 2025 00:00:00 +0530 Wed, 10 Sep 2025 08:39:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778069 ITAT, Chennai set aside the CIT(A) order and deleted most additions under section 69A relating to specified bank notes, holding the AO failed to properly analyze the assessee's business model, books, sales, stock and debtor realisations per CBDT guidance; there was no significant change in cash deposits during demonetisation and records showed adequate stock and matching purchases/sales. The Tribunal held Rs. 1,24,80,084 of bank credits explained; only Rs. 18,21,853 remained unexplained, and an estimation at 8% on that balance was confirmed. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778069