https://www.taxtmi.com/caselaws?id=783255 ITAT Delhi deleted the addition made under s.69A r/w s.115BBE on cash deposits during the demonetization period. The assessee demonstrated that the deposits were sourced from earlier bank withdrawals in FYs 2015-16 and 2016-17, intended for house renovation. As the renovation proposal was abandoned due to lack of consensus among co-owners and failed negotiations with a builder, the cash remained unutilized and was subsequently deposited when demonetization was announced. The Revenue produced no evidence that the withdrawn cash was used elsewhere. ITAT held the explanation satisfactory, treating the prior withdrawals as a legitimate cash source, and ruled the cash deposits to be explained, deciding in favour of the assessee. en-us Mon, 08 Dec 2025 00:00:00 +0530 Fri, 12 Dec 2025 08:55:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783255 ITAT Delhi deleted the addition made under s.69A r/w s.115BBE on cash deposits during the demonetization period. The assessee demonstrated that the deposits were sourced from earlier bank withdrawals in FYs 2015-16 and 2016-17, intended for house renovation. As the renovation proposal was abandoned due to lack of consensus among co-owners and failed negotiations with a builder, the cash remained unutilized and was subsequently deposited when demonetization was announced. The Revenue produced no evidence that the withdrawn cash was used elsewhere. ITAT held the explanation satisfactory, treating the prior withdrawals as a legitimate cash source, and ruled the cash deposits to be explained, deciding in favour of the assessee. Case-Laws Income Tax Mon, 08 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783255