No addition for Cash Deposit during Demonetization out of Cash generated from Rent

Shri Krishnapandian Balaji Vs DCIT (ITAT Chennai) Introduction: Delve into the intricacies of the case involving Shri Krishnapandian Balaji and the Deputy Commissioner of Income Tax (DCIT) as the Income Tax Appellate Tribunal (ITAT) Chennai addresses the issue of unexplained cash deposits during the demonetization period. The crux of the matter revolves around the assessee justifying the source of cash as rental income generated from various properties. This article provides an in-depth analysis of the proceedings and the tribunal’s decision. Detailed Analysis: The article presents a com...