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Mumbai ITAT Deletes Demonetisation Addition as Marriage Gifts and Past Savings Explain Cash Deposits
Case Law Details
- Case Name
- Satinder Govind Oberai Vs ITO (ITAT Mumbai)
- 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 Mumbai
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Satinder Govind Oberai Vs ITO (ITAT Mumbai)
Mumbai ITAT Deletes Demonetisation Addition – Marriage Gifts & Past Savings Accepted as Valid Source of Cash Deposits
The ITAT Mumbai deleted the addition of Rs. 6,89,000 made under Section 69A read with Section 115BBE of the Income-tax Act, 1961 in respect of cash deposits made during the demonetisation period. The assessee explained that the deposits comprised marriage gifts received at the time of her marriage on 01.05.2016, past savings, and cash retained at home for the medical needs of her specially-abled step-son and...
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