ITAT Delhi Deletes ₹26.35 Lakh Addition on Cash Deposits

Shivinder Pal Singh Chahal Vs ACIT (ITAT Delhi) In the case of Shivinder Pal Singh Chahal vs. ACIT (ITAT Delhi), the Income Tax Appellate Tribunal (ITAT) addressed the addition of ₹26.35 lakh made by the Assessing Officer (AO) under Section 68 of the Income Tax Act, treating it as unexplained cash deposits during the demonetization period. The AO noted that sales during this period were significantly higher than usual and consequently added the amount to the assessee’s income. The CIT(Appeal) upheld this addition. However, upon appeal, the ITAT observed that the Revenue Department had alre...