Suspicion Cannot Replace Evidence -69A Addition Deleted 

Tekchand Punjabi Vs ITO (ITAT Raipur) AO noticed cash deposits of ₹1,15,000 on 22.06.2015 &  ₹4,00,000 on 25.06.2015 in Assessee’s SBI account. Assessee explained that ₹5,00,000 was withdrawn on 12.06.2015 via bearer cheque issued to employee Shri Prem Shankar Mishra, which was later re-deposited as not required. AO rejected the explanation, stating that such bearer cheque transaction had never been done earlier &  termed it a colourable device, making addition of ₹4,00,000 u/s 69A. Regarding ₹1,15,000 deposit, AO allowed opening cash of ₹93,126 &  added the balanc...