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Section 69A: Cash Deposits during Demonetization not Taxable if Source Explained
Case Law Details
- Case Name
- Amikrupa Education Trust Vs ITO (ITAT Ahmedabad)
- 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 Ahmedabad
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Amikrupa Education Trust Vs ITO (ITAT Ahmedabad)
Introduction: In a significant judgment by the Ahmedabad Income Tax Appellate Tribunal (ITAT), the case of Amikrupa Education Trust Vs Income Tax Officer (ITO) has set a notable precedent concerning cash deposits made during the demonetization period in India. The ITAT’s decision, dated 24-01-2024, revolves around the challenge against the order by the National Faceless Appeal Centre (NFAC), Delhi, for the assessment year 2017-18, which involved an addition of Rs. 49,80,000 as unexplained money under Section 69A of the Income Tax Act, 1961...
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