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3. Briefly stated, the facts of the case are that the assessee company is in the business of selling cars, servicing and repairing case of Maruti Brand alongwith purchasing and selling pre-owned cars under "True Value" brand of Maruti Suzuki India Ltd.

4. The assessee filed its Return of Income electronically on 2.11.2017 declaring total income of Rs. 5,39,31,900/-. Return was selected for scrutiny assessment through CASS and accordingly, statutory notices were issued and served upon the assessee.

10. Aggrieved by this, the assessee went in appeal before the ld. CIT(A).

11. The ld. CIT(A), after careful consideration of the facts and material on record, and after analyzing the month-wise comparative details of cash deposits, assessee's turnover, the specific circumstances and nature of business of the assesseein the light of the evidences supplied by the assessee,deleted the addition by concluding as under:

"8.2 I have considered the submissions and facts of the case. The appellant is in the business of selling cars, servicing and repairing cars of Maruti Brand alongwith purchasing and selling pre owned cars under True Value brand of Maruti Suzuki India Ltd.. Return was filed by the appellant at an income of Rs. 5,39,28,160/- and assessment was completed at an income of Rs. 8,32,35,660/- after making addition of Rs. 2,93,07,500/- u/s 68 of the IT Act, 1961 on account of unexplained deposit in the bank account. The appellant submitted cash sales and cash deposited chart which is in the below mentioned table:-