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2023 (8) TMI 220 - ITAT DELHIAddition of cash deposits in bank account u/s 69A - HELD THAT:- Assessee has filed copy of bank statement of the bank account on the basis of which the impugned addition has been made. From the bank account statement it is transpired that the assessee had deposited in cash and there were withdrawals out of the cash deposits. There were substantial withdrawals and deposits, the lower authorities have not given set off of the cash withdrawals made by the assessee at different intervals, find that there were cash withdrawals as well before making deposits. Therefore, it can be assumed that the deposits were also from the withdrawals made by the assessee on earlier occasions. Hence, it would be fair and reasonable to restrict the addition made by the authorities below to the extent of 20%. Decided partly in favour of assessee.
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