https://www.taxtmi.com/caselaws?id=778453 ITAT held that cash deposits made during the demonetization period were adequately explained. Bank accounts showed debits of Rs.13,00,000 and Rs.11,65,000 on 05/05/2016, and SBI's letter confirmed loans aggregating Rs.24,65,000. The ITAT directed the AO to verify the loans as the source of the cash deposits and, if verified, treat the deposits as explained and not make any addition. Assessee's appeal allowed. en-us Fri, 17 Jan 2025 00:00:00 +0530 Wed, 17 Sep 2025 08:31:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778453 ITAT held that cash deposits made during the demonetization period were adequately explained. Bank accounts showed debits of Rs.13,00,000 and Rs.11,65,000 on 05/05/2016, and SBI's letter confirmed loans aggregating Rs.24,65,000. The ITAT directed the AO to verify the loans as the source of the cash deposits and, if verified, treat the deposits as explained and not make any addition. Assessee's appeal allowed. Case-Laws Income Tax Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778453