https://www.taxtmi.com/caselaws?id=779122 ITAT upheld deletion of addition under section 69A, holding deposits of specified banknotes during demonetization were explained by pre-existing cash balances and recorded cash sales in the assessee's books, which were accepted by the tribunal. Additions for excess purchases based solely on Form 26AS were disallowed for two suppliers where supplier ledgers corroborated higher sales; those additions were deleted. However, additions were sustained in respect of purchases from the bottling plant (HPGICS) where discrepancies remained, and sustained for the fourth supplier due to lack of satisfactory explanation or corroboration. en-us Mon, 20 Jan 2025 00:00:00 +0530 Mon, 29 Sep 2025 08:27:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779122 ITAT upheld deletion of addition under section 69A, holding deposits of specified banknotes during demonetization were explained by pre-existing cash balances and recorded cash sales in the assessee's books, which were accepted by the tribunal. Additions for excess purchases based solely on Form 26AS were disallowed for two suppliers where supplier ledgers corroborated higher sales; those additions were deleted. However, additions were sustained in respect of purchases from the bottling plant (HPGICS) where discrepancies remained, and sustained for the fourth supplier due to lack of satisfactory explanation or corroboration. Case-Laws Income Tax Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779122