Addition u/s 69A unjustified as evidences explaining nature & source of cash deposits filed

S. Tulasidoss Nedunselian Vs ACIT (ITAT Chennai)

ITAT Chennai held that addition towards unexplained money u/s 69A of the Income Tax Act unjustified as assessee has filed necessary evidence to explain nature and source for cash deposits.

Facts- The assessee is a managing director of one company M/s. STN Properties Ltd. The assessee has filed his original return of income for all assessment years u/s. 139 of the Income-tax Act, 1961. A search and seizure operation u/s. 132

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