Cash deposits during demonetization out of earlier withdrawals cannot be added

Vittalappa Ganesha Vs ITO (ITAT Bangalore) ITAT Bangalore held that addition under section 69A towards cash deposits during demonetization deleted since cash deposit was made out of earlier withdrawals. Accordingly, appeal allowed and addition deleted. Facts- The assessee is a working partner in the partnership firm. The case of the assessee was selected for limited scrutiny under CASS for verification of cash deposit made during the demonetization period. AO concluded the assessment and held that assessee’s explanation that the cash deposit of Rs.15 lakhs is made out of the withdrawals is n...