https://www.taxtmi.com/caselaws?id=781768 ITAT Lucknow allowed the assessee's appeal and deleted the addition made u/s 69A for cash deposits during demonetization. The assessee, a salaried employee with bank interest income, had earlier withdrawn Rs. 7,68,800 in cash from the same savings account between 01.04.2016 and 31.10.2016, which exceeded the subsequent cash deposits. The Revenue failed to show that the withdrawn cash was used elsewhere or that the deposits represented unexplained money. Holding that the addition was based on mere suspicion and guesswork, ITAT accepted the assessee's explanation and removed the addition of Rs. 1,91,500. en-us Tue, 14 Oct 2025 00:00:00 +0530 Thu, 20 Nov 2025 08:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781768 ITAT Lucknow allowed the assessee's appeal and deleted the addition made u/s 69A for cash deposits during demonetization. The assessee, a salaried employee with bank interest income, had earlier withdrawn Rs. 7,68,800 in cash from the same savings account between 01.04.2016 and 31.10.2016, which exceeded the subsequent cash deposits. The Revenue failed to show that the withdrawn cash was used elsewhere or that the deposits represented unexplained money. Holding that the addition was based on mere suspicion and guesswork, ITAT accepted the assessee's explanation and removed the addition of Rs. 1,91,500. Case-Laws Income Tax Tue, 14 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781768