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ITAT Deletes Demonetisation Cash Deposit Addition as Withdrawals Exceeded Deposits
Case Law Details
- Case Name
- Vinita Nitin Chaudhary Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Delhi
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Vinita Nitin Chaudhary Vs ITO (ITAT Delhi)
No Section 69A Addition Merely Due to Time Gap Between Cash Withdrawal and Redeposit; Salaried Employee Not Required to Maintain Cash Book for Explaining Cash Deposits; ITAT Quashes Unexplained Cash Addition as Revenue Failed to Prove Alternate Use of Withdrawals.
Summary: In Vinita Nitin Chaudhary Vs ITO, the Delhi ITAT deleted an addition of ₹12.08 lakh made under Section 69A for cash deposits during the demonetization period, holding that the deposits were sufficiently explained through earlier withdrawals from the assessee�...
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