Demonetisation Cash Deposit Fails ‘Old Withdrawal’ Explanation

Ramchandra Singh Rana Vs ITO (ITAT Ahmedabad) Demonetisation Cash Deposit of ₹10 Lakh Held Unexplained: ITAT Ahmedabad Upholds Addition u/s 69A Where ‘Past Withdrawals’ Story Fails The Ahmedabad SMC Bench of the ITAT dismissed the assessee’s appeal and sustained addition of ₹10 lakh u/s 69A for AY 2017-18 in the case of Ramchandra Singh Rana vs. ITO, Ward-3, Gandhinagar (ITA No.1330/Ahd/2025, order dated 24-12-2025). The assessee had deposited ₹10 lakh in cash during the demonetisation period (November 2016) and claimed that the source was past cash withdrawals made in December 201...