Assessee-company is  engaged in business of gold bullion/ jewellery.  A search under section 132 is carried out at residential premises of partners of JMK Exports ‘ and also at residential premises of director of RBPL. In course of search, director of RBPL a private company stated that he was given demonetized cash by one Rajesh Chawala  who was one of directors of assessee-company, for depositing in bank accounts of RBPL and thereafter transferring funds to specified bank accounts on commission basis.  On basis of said statement and some CCTV footages obtained from bank, Assessing Officer passed assessment order under section 143(3) read with section 153C making addition under section 69A to income of assessee.  However, CCTV footage obtained from bank did not contain any conclusive evidence to establish that close relatives and associates of Rajesh Chawala  were carrying demonetized cash for depositing in bank account of RBPL.  Assessing Officer had not made detailed enquiry and had not brought any conclusive evidence to establish beyond reasonable doubt that it was assessee who had given demonetized cash for depositing in bank accounts of RBPL and Assessing Officer had also not made any enquiry with concerned banks to ascertain source of cash deposits. He had only made enquiry with one bank and on basis of that enquiry, it could not be concluded with certainty that close relatives/associates of Rajesh Chawala   were carrying demonetized cash.   Deposit slips indicating deposit of cash in bank account of RBPL contained signatures of persons other than close relatives/associates of Rajesh Chawala. On facts, addition under section 69A to income of assessee  is directed to be deleted.  (AY. 2017-18)