Cash sales deposited during demonetization cannot be added u/s. 69A

Mohit Sukhija Vs NFA (ITAT Delhi) ITAT Delhi held that addition under section 69A of the Income Tax Act towards cash deposited during demonetization cannot be sustained as source of cash deposited is cash sales and the same is already offered to tax. Accordingly, the appeal is allowed and addition is deleted. Facts- The case of the assessee was reopened as it was noted that assessee has deposited cash of INR 14, 92,500/- during demonetization period. After considering the submission, AO made addition of INR 14,92,500/- under section 69A towards unexplained money being deposited during demoneti...