Cash Deposit Source Explained: ITAT reduces Rs. 10 Lakh Addition to 1 Lakh

Vijay Kumar Sharma Vs ITO (ITAT Delhi) ITAT Delhi Partly Allows Appeal – ₹10 Lakh Cash Deposit Addition Cut Down to ₹1 Lakh for Reasonable Estimate; ITAT Delhi Relief: Rs. 9 Lakh Reduction on Unexplained Cash Deposit u/s 69; Family Savings Dispute: ITAT Grants Substantial Relief on Unexplained Cash Addition Delhi SMC Bench restricted the addition on cash deposit of ₹10 lakh to ₹1 lakh, granting substantial relief to Assessee. Assessee, a salaried individual also doing part-time accounting, had deposited ₹10 lakh in cash in his SBI account in May 2011. He explained that it represent...