Addition u/s 69A for cash deposited during demonetization untenable as transaction duly explained

Oinidri Chakraborty Vs ITO (ITAT Kolkata) ITAT Kolkata held that addition towards unexplained cash credit u/s 69A of the Income Tax Act untenable as cash deposited during the demonetization period duly explained. Facts- The assessee is a partner in a partnership firm, Champahati C.S. Shop, which holds a liquor license and is engaged in the business of trading in liquor. Case was selected for scrutiny through CASS for verification of cash deposited during the demonetization period followed by issuance of notice u/s. 143(2) & 142(1) of the Act. According to the Assessing Officer, the cash de...