2025 (9) TMI 1234

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.... the demonetization period is justified. 3. The assessee deposited Rs. 11,38,000/- in cash in her bank account during the period between November 11, 2016, and December 17, 2016. She explained the source of this amount as Rs. 3,75,000/- from agricultural income and an opening cash balance of Rs. 8,08,561.00/- only. 4. The AO accepted Rs. 2,00,000/- as satisfactorily explained but treated the remaining Rs. 9,38,000/- as unexplained income under Section 69A of the Income Tax Act, 1961. The AO doubted the availability of sufficient cash with the assessee, given her profile of declaring nominal income in earlier assessment years. Additionally, the AO highlighted that the deposits were made in parts instead of in one lump sum at the beginning ....

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....the appellant, shall be recognized as originating from a legitimate source (out of Rs 3,75,000/- relief of Rs 2,00,000/- was already been given by the AO). As a result, the original addition of 9,38,000/- is restricted To Rs 7,63,000/- reflecting the portion of the deposit that cannot be satisfactorily explained by the appellant. Accordingly the only ground raised by the appellant stands partly allowed." 6. Being aggrieved by the order of the ld. CIT-A, the assessee is in appeal before us. 7. The learned AR before us filed a paper book running from pages 1 to 46 and reiterated the contentions as made before the authorities below. 8. On the contrary, the ld. DR submitted that the assessee failed to justify based on the documentary eviden....