Addition as unexplained cash deposits unjustified as source of cash deposit demonstrated

DCIT Vs Atulah Contractors and Construction Pvt. Ltd. (ITAT Delhi) ITAT Delhi held that addition under section 68 of the Income Tax Act towards unexplained cash deposits unjustified as source of cash deposit successfully demonstrated by the assessee. Facts- In the post-demonetization period, the Police intercepted two vehicles carrying cash amounting to Rs. 2,22,76,000/- which was belonging to M/s Omaxe Ltd. The said cash was requisitioned u/s. 132A by the Income Tax Authority and a survey u/s. 133A was also conducted at the office premises M/s Omaxe Ltd, wherein certain documents were impound...