Case Law Details
Aroshi Jain Vs ACIT (ITAT Delhi)
Circular No.03/2017 dated 21.02.2017 provides that no further clarification or verification is required to be made in a case of an individual when the deposited amount during demonetization period is upto Rs. 2,50,000/-. In the present case, the assessee who is a housewife having no other source of income has deposited 2,40,000/- during demonetization period. Therefore, in view of the CBDT Circular (supra) and the order of ITAT in the case of Neeru Jain vs. ITO, the addition made by the AO and confirmed by the ld. CIT(A) cannot be held as sustainable as the same is clearly against the instructions issued by the CBDT. Therefore, the sole grievance of the assessee is allowed and the AO is directed to delete the addition.
FULL TEXT OF THE ORDER OF ITAT DELHI
This appeal filed by the assessee is directed against the order of the CIT(A)-31, New Delhi, relating to Assessment Year 2017-18.
2. The assessee has raised the following grounds of appeal:-
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