Addition of cash deposited in bank post demonetization due to cash sales unsustainable

Charu Aggarwal Vs DCIT (ITAT Chandigarh)

Held that cash sales made by the assessee which was deposited in the bank post demonetization is sufficient source of cash deposited. Addition of the same unsustainable.

Facts- A notice u/s 153A was issued to the assessee post search operation. Thereafter, the assessee filed its ROI declaring an income of Rs. 22,52,980/-. During the course of assessment proceedings, AO noticed that the assessee had deposited Rs. 2,90,20,000/-during post demonetization in its CC

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