Time gap between Cash withdrawal & deposit not warrant Section 69 addition

Neeta Breja Vs ITO (ITAT Delhi) Income Tax Appellate Tribunal (ITAT) Delhi allowed the appeal of Neeta Breja against the Commissioner of Income Tax (Appeals)’s order, which had confirmed an addition of ₹26,75,100 under Section 69 of the Income Tax Act for unexplained cash deposits in her Yes Bank account during Assessment Year 2010-11. The Assessing Officer (AO) had rejected the assessee’s explanation that the deposited cash was from earlier withdrawals from the same bank, citing a time gap between withdrawal and deposit. The CIT(A) upheld this. However, the ITAT relied on the as...