Cash Deposit Taxed Because Personal Explanation Was Unsubstantiated

Tapas Kundu Vs ITO (ITAT Kolkata)

Old Cash Withdrawals Can’t Explain Demonetisation Deposits: Section 69A Addition Sustained

Assessee deposited cash of Rs.39.22 lakh during demonetisation period & explained source as past cash withdrawals from salary bank account made during FYs 2014-15 to 2016-17, contending that due to matrimonial dispute & legal advice, salary was withdrawn & kept as cash at home. AO accepted withdrawals only to limited extent, esti

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