No addition u/s 69A of ₹10.46L for cash deposits by assessee during demonetization period

Malti Garg Vs ITO (ITAT Chandigarh) Conclusion: Cash deposits made by assessee during the demonetization period were explained as being sourced from earlier withdrawals and household savings, and deleted the addition of ₹10,46,500 made under section 69A. Held: Assessee was a senior citizen, had deposited ₹10,46,000 in specified bank notes into her bank account during November 2016 and was subjected to scrutiny for the Assessment Year (AY) 2017-18. AO treated the deposits as unexplained money under section 69A on the ground that assessee had failed to substantiate the source of cash. On ap...