Selective Section 69B Addition Demonetization Cash deposit Unjustified: ITAT Ahmedabad

Sanjaykumar Zamatmal Kalwani Vs ITO (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT) Ahmedabad addressed an appeal filed by Sanjaykumar Zamatmal Kalwani against an order by the Commissioner of Income-tax (Appeals) (CIT(A)). The core issue revolved around an addition of ₹11,83,000 made by the Assessing Officer (AO) under Section 69B of the Income-tax Act, 1961, concerning unexplained cash deposits during the demonetization period. The taxpayer, a fruit trader, had declared a total income of ₹5,28,360 for the assessment year 2017-18. The AO’s addition was based on the taxpayer...