Addition u/s. 69A not sustained as cash deposited out of business proceeds: ITAT Ahmedabad

Daxaben Ashokkumar Dattani Vs ITO (ITAT Ahmedabad) ITAT Ahmedabad held that addition under section 69A towards unexplained cash deposit cannot be sustained since it is reasonably explained that deposit is out of its business proceeds. Accordingly, order of CIT(A) set aside and appeal of assessee allowed. Facts- The present appeal has been filed by the assessee against the order of Commissioner of Income Tax (Appeals). The solitary issue in the present appeal relates to addition made to the income of the assessee on account of cash found deposited in the bank account amounting to Rs.53,27,000/-...