ITAT Deletes Demonetisation Cash Deposit Addition as Withdrawals Exceeded Deposits

Vinita Nitin Chaudhary Vs ITO (ITAT Delhi) No Section 69A Addition Merely Due to Time Gap Between Cash Withdrawal and Redeposit;  Salaried Employee Not Required to Maintain Cash Book for Explaining Cash Deposits;  ITAT Quashes Unexplained Cash Addition as Revenue Failed to Prove Alternate Use of Withdrawals. Summary: In Vinita Nitin Chaudhary Vs ITO, the Delhi ITAT deleted an addition of ₹12.08 lakh made under Section 69A for cash deposits during the demonetization period, holding that the deposits were sufficiently explained through earlier withdrawals from the assessee’s own bank accou...