₹28.88 Lakh Addition reduced to ₹3.88 Lakh in Demonetization Cash Addition Case

Neha Singh Vs ITO (ITAT Delhi) In the case of Neha Singh vs. Income Tax Officer (ITO), the Income Tax Appellate Tribunal (ITAT) Delhi bench has partially allowed an appeal by the assessee concerning cash deposits made during the demonetization period. The Tribunal reduced the disputed addition of Rs. 28,88,000 to Rs. 3,88,000, acknowledging the explanation of accumulated family savings. The case originated from the assessment year 2017-18, where the Assessing Officer (AO) had added Rs. 28,80,000 to Ms. Singh’s income, citing unexplained cash deposits during the demonetization drive. The ...