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2020 (11) TMI 909 - AT - Income TaxAddition u/s 69A - unexplained money - HELD THAT:- AO has accepted the return of the assessee thereby accepting the turn over from the sales of papad and snacks. It is the say that counsel for the assessee has been doing this business since past many years and therefore had sufficient funds to explain the source of cash deposit. Per contra the DR strongly supported the findings of the lower authorities - once the business of the assessee has been accepted by the AO by accepting her return of income there should not be any doubt in accepting the source of cash deposit. Assessee has successfully explained the source of cash deposit of ₹ 10 lacs. We accordingly direct the AO to delete the impugned addition. The appeal filed by the assessee is allowed.
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