ITAT Upholds Section 69A Addition as Identical Cash Sale Vouchers Failed Genuineness Test

Garima Leather Exports Vs ITO (ITAT Delhi) In this case, the Income Tax Appellate Tribunal (ITAT), Delhi, considered whether cash deposits of ₹1,34,76,000 made by the assessee during the demonetisation period could be treated as unexplained money under Section 69A of the Income Tax Act, 1961. The assessee, engaged in the business of manufacturing and trading footwear, had filed a return declaring a loss for Assessment Year 2017-18. During assessment proceedings, the Assessing Officer (AO) examined cash deposits made between 9 November 2016 and 31 December 2016 and sought an explanation for t...