Cash deposit during demonetization not added u/s. 68 as source duly explained

Ayesha Steels (P) Ltd Vs ITO (ITAT Delhi) ITAT Delhi held that cash deposited during demonetization period cannot be added as unexplained cash deposit under section 68 of the Income Tax Act since sufficient explanation of source of cash deposit provided by the assessee. Accordingly, addition deleted and appeal allowed. Facts- The AO noted that there were substantial cash deposits made by the appellant during the demonetization period and cash deposits in SBN during demonetization amounted to Rs 1.22 crore besides other cash deposits of Rs 69.80 lakhs during the relevant period. The case was he...