ITAT Grants Fresh Hearing on ₹54.70 Lakh Demonetization Cash Deposits Case

Nagarajan Manivannan Vs ITO (ITAT Chennai) Income Tax Appellate Tribunal (ITAT) Chennai has granted a fresh opportunity to Nagarajan Manivannan to substantiate the source of ₹54.70 lakh in cash deposits made during the demonetization period. The case pertains to the Assessment Year 2017-18, where the Assessing Officer (AO) had made an addition under Section 147 read with Section 144 of the Income Tax Act. The Commissioner of Income Tax (Appeals) [CIT(A)] confirmed the addition as the assessee failed to present any evidence despite multiple opportunities. Seeking relief, the assessee approach...