Amount Deposited During Demonetization Does Not Call For Addition U/s 69A If Source Of Deposit Was Sufficiently Explained: Rajkot ITAT
Pankaj Bajpai
6 May 2024 5:15 PM IST

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6 May 2024 5:15 PM IST
Finding that the assessee has explained the details of the earning of the amount which was rightly deposited during the demonetization period, the Rajkot ITAT held that the addition confirmed by the CIT(A) u/s 69A of the Income tax Act is not justified. Section 69A lays down that if, in any financial year, the assessee is found to be the owner of any money, bullion, jewellery, or...
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