https://www.taxtmi.com/caselaws?id=782618 ITAT Ahmedabad allowed the assessee's appeal and deleted the addition made u/s 69A on cash withdrawals from a disclosed savings bank account. The Tribunal held that withdrawals from an accounted bank account, duly recorded in regular books not rejected by the AO, cannot be treated as "unexplained money" absent independent evidence of diversion to unaccounted purposes. The statutory presumption under s.69A applies only where ownership of unexplained money is found, not to routine bank withdrawals linked to recorded business transactions. Given the documented business exigency under a regulated CSC/SBI framework and accepted books and registers, the revenue failed to discharge its burden, rendering the impugned addition unsustainable. en-us Tue, 12 Aug 2025 00:00:00 +0530 Fri, 28 Nov 2025 17:15:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782618 ITAT Ahmedabad allowed the assessee's appeal and deleted the addition made u/s 69A on cash withdrawals from a disclosed savings bank account. The Tribunal held that withdrawals from an accounted bank account, duly recorded in regular books not rejected by the AO, cannot be treated as "unexplained money" absent independent evidence of diversion to unaccounted purposes. The statutory presumption under s.69A applies only where ownership of unexplained money is found, not to routine bank withdrawals linked to recorded business transactions. Given the documented business exigency under a regulated CSC/SBI framework and accepted books and registers, the revenue failed to discharge its burden, rendering the impugned addition unsustainable. Case-Laws Income Tax Tue, 12 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782618