ITAT: Suspicion Alone Can’t Justify 69A Addition on Agriculturist’s Deposits

Narendra Kumar Vs ITO (ITAT Delhi) Cash Deposits Alone Can’t Justify 69A Addition – ITAT Sends Matter Back for Proper Inquiry- Agriculturist’s Cash Deposits During Demonetization –   Delhi Tribunal examined addition of Rs. 11,87,000/- made by AO u/s 69A treating cash deposits during 9.11.2016 to 31.12.2016 as unexplained. Assessee, an agriculturist owning 61 bighas of fertile agricultural land, claimed that deposits were from sale of crops & trees &  supported his claim with bank statements & Khatauni. AO completed assessment u/s 144, holding that assessee failed to furni...