Cash Deposit Addition Scaled Down to 5% – ITAT Delhi Upholds CIT(A)’s Estimate

Anil Kumar Singhal Vs ITO (ITAT Delhi)

Assessee’s case was reopened u/s 147 based on information that he deposited ₹4.65 crore cash in bank accounts without explaining the source. During reassessment, AO found total deposits of ₹8.21 crore (cash & cheque) and, unsatisfied with Assessee’s explanation of pottery trading, treated the entire sum as unexplained money u/s 69A.

Before CIT(A), Assessee argued that deposits represented turnover from his pottery trading business in Khurja. Observing that both deposits & withdrawals existed &that estimation was unav

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