Cash Deposit Taxed Because Personal Explanation Was Unsubstantiated

Tapas Kundu Vs ITO (ITAT Kolkata) Old Cash Withdrawals Can’t Explain Demonetisation Deposits: Section 69A Addition Sustained Assessee deposited cash of Rs.39.22 lakh during demonetisation period & explained source as past cash withdrawals from salary bank account made during FYs 2014-15 to 2016-17, contending that due to matrimonial dispute & legal advice, salary was withdrawn & kept as cash at home. AO accepted withdrawals only to limited extent, estimated personal expenditure & treated balance cash deposit of Rs.32.68 lakh as unexplained money u/s 69A, taxable u/s 115BBE. C...