Cash Deposits During Demonetisation Not Automatically Taxable U/s 69A

Geethamma Vs ITO (ITAT Bangalore) Agricultural Income & Kirana Sales – No Straight 69A Addition-Tribunal Orders AO to Verify Sources of Cash Deposits Assessee, a 60-year-old lady with limited education, did not file return for AY 2017-18. It was found that she deposited ₹5.65 lakh in her Canara Bank account during November 2016. AO issued notice u/s 142(1), but in absence of return, completed best judgment assessment u/s 144 on 15.12.2019. AO treated the deposits as unexplained money u/s 69A & taxed them u/s 115BBE, computing total income at ₹6.50 lakh. On appeal, CIT(A) dismisse...