https://www.taxtmi.com/caselaws?id=779617 ITAT CHENNAI - AT allowed the appeal and deleted additions under s.69A r/w s.115BBE where the assessee, assessed under presumptive taxation u/s.44AD, satisfactorily explained cash deposits during demonetisation as genuine business receipts. Month-wise cash flow, comparative data and the nature of rural jewellery trade showed consistent, plausible cash sales and withdrawals with no unexplained inflow. In the absence of any specific incriminating material from Revenue, the Tribunal held the AO's bank-deposit addition unsustainable and set it aside. en-us Mon, 08 Sep 2025 00:00:00 +0530 Thu, 09 Oct 2025 08:54:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779617 ITAT CHENNAI - AT allowed the appeal and deleted additions under s.69A r/w s.115BBE where the assessee, assessed under presumptive taxation u/s.44AD, satisfactorily explained cash deposits during demonetisation as genuine business receipts. Month-wise cash flow, comparative data and the nature of rural jewellery trade showed consistent, plausible cash sales and withdrawals with no unexplained inflow. In the absence of any specific incriminating material from Revenue, the Tribunal held the AO's bank-deposit addition unsustainable and set it aside. Case-Laws Income Tax Mon, 08 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779617