Consistent Withdrawal Pattern Valid Source – Section 69A & 115BBE Addition Deleted

Guneet Kaur Chadha Vs ITO (ITAT Delhi)

Earlier Withdrawals = Explained Source: Section 69A Addition Quashed- No Evidence of Diversion, Cash Balance Proven—115BBE Addition Removed

Assessee filed ROI declaring income of ₹16,88,110. During demonetization, she deposited ₹25,00,000 (11-11-2016) & ₹4,000 (22-11-2016) in specified bank notes. AO held that the explanation for source was not satisfactory & made an addition of ₹25,04,000 u/s 69A r.w.s. 115BBE, which CIT(A)/NFAC confirmed.

Assessee explained that she had accumulated cash from s

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