ITAT Allows Partial Relief on Demonetisation Cash Deposits Citing Agricultural Background

Bhawna Puri Vs ITO (ITAT Chandigarh) Demonetisation Cash Deposits – ITAT Recognises Agricultural Reality, Sustains Only ₹10 Lakh Out of ₹36.16 Lakh Addition Assessee declared income of ₹5.21 lakh & agricultural income of ₹5.50 lakh. During demonetisation, she deposited ₹47.89 lakh in cash in her bank accounts. AO accepted ₹11,73,028 as explained (gifts, agricultural income, tuition/household receipts) but treated the balance ₹36,16,472 as unexplained u/s 68, & CIT(A) confirmed the addition. Assessee argued that she & her family jointly owned an apple orchard leased ...