Addition u/s. 69A set aside as cash deposit during demonetization sufficiently explained

Kalyanasundaravalli Premanandhan Vs ITO (ITAT Chennai)

ITAT Chennai held that addition under section 69A of the Income Tax Act towards cash deposit during demonetization not justified since assessee has sufficiently explained that the said deposit is from earlier withdrawal. Accordingly, appeal allowed.

Facts- The Appellant is an individual assessee, being a salaried employee, deriving income solely from salary and interest from savings and time deposits. During scrutiny assessment, it was noticed that assessee has made cash deposit of ₹15,30,000/- in her

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