The AO subsequently received information regarding substantial financial transactions in the assessee’s bank account, including cash deposits of Rs. 13,96,000 during the demonetisation period from 09.11.2016 to 30.12.2016, and total cash deposits of Rs. The AO held that the assessee had failed to furnish a satisfactory explanation regarding the source of the cash deposits. 24,96,000 bank deposits as unexplained money under Section 69A. On the substantive issue, the assessee’s authorised representative submitted that the cash deposits did not belong to the assessee personally.