Section 69A Addition Deleted as Cash Deposits Proven Through Books

Srinivasappa Vs ACIT (ITAT Bangalore)

The appeal concerns the addition of ₹14,10,000 as unexplained cash deposits under section 69A of the Income-tax Act, 1961, made by the Assessing Officer (AO) and confirmed by the Commissioner of Income Tax (Appeals) [CIT(A)] for Assessment Year 2017-18. The AO identified cash deposits of ₹7,40,000 in an SBI account and ₹6,70,000 in an HDFC account, treating them as unexplained money. The CIT(A) held that the assessee failed to explain the source of these deposits and therefore sustained the addition.

Before the Tribunal, the assess

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