Tribunal Upholds Tax Additions on Demonetized Currency Deposits; Revenue's Challenge Rejected, Normal Tax Rate Applied.

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....Additions towards cash deposits u/s. 69A r.w.s. 115BBE in demonetized currency - Addition based on report received from the ADIT (Investigation), Trichy - The ITAT held that, no error in the findings recorded by the CIT(A) to re-compute net profit from business and to be taxable under normal rate of tax, and thus, we are inclined to uphold the findings of the CIT(A) and reject the ground taken by the Revenue.....