Held that considering the close proximity of the aforesaid withdrawal and the cash deposits, assessee’s explanation that the cash deposit was made out of the earlier cash withdrawal is accepted. As regards other credit which is received on account of cancellation of hotel reservation. Addition is deleted. (AY. 2017-18)
Hersh Washesher Chadha v. ACIT (IT) (2023) 37 NYPTTJ 1643 /(2024) 227 TTJ 137 / 233 DTR 121 (Delhi)(Trib)
S. 69A : Unexplained money-Deposits-Bank account-Non-Resident-Demonetisation-Amount received on cancellation of reservation of hotel booking-Addition is deleted.