Addition u/s 69A unsustainable as cash deposit during demonetization established through bank account

Kavitaben Chintanbhai Patel Vs ITO (ITAT Ahmedabad)

Held that the source of withdrawal of the money is being clearly demonstrated and their deposit of money on various occasions is also established by the assessee through her bank account. Accordingly, addition u/s. 69A towards deposit of demonetized currency notes unsustainable.

Facts-

The assessee deposited in Old currency notes of Rs. 2000 and Rs. 500/- on a sum of Rs. 10,00,000/- on

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