No Section 69 Addition When Cash Book Shows No Negative Balance: ITAT Delhi

Madan Gopal Agarwal Vs ITO (ITAT Delhi) When Cash book speaks, Addition fails-  No Negative balance, No Addition Burden shifts to Revenue  – ITAT says cash deposits fully explained Delhi ITAT has given relief to an assessee by deleting an addition of ₹92.45 lakh made u/s 69 read with section 115BBE, holding that where a properly maintained cashbook shows no negative balance & cash deposits are backed by documented sources, the Revenue must bring material to prove alternative use of funds before making additions. Assessee filed his return for AY 2015-16 declaring an income of â‚...