Case Law Details
Smt. Uma Agrawal Vs ITO (ITAT Agra)
In the case of Smt. Uma Agarwal v ITO- 1(3), Hon’ble ITAT Agra in ITA No.35/Agr/2021 held that Hon’ble ITAT held that the addition made by the lower authority cannot be sustained on account of the statement given by the Prime Minister, press statement and the standard operating procedure issued by the board, as instructions under section 119 to the Assessing Officer, as the instructions issued by the Board are statutory and binding on the revenue.
As per Instruction No. 03/2017, dated 21-2-2017, which are statutory and binding on revenue, the Assessing Officer has no mandate to tax cash deposit in the bank account during Demonetization Scheme, 2016 if it is less than 2.5 lakhs.
In no. of cases, it has been observed that the notice has been issued by the income tax department for cash deposit made by the housewife or other small income assessees up to Rs.2.5 Lakh and addition has been made u/s 69A.
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