Case Law Details
Case Name : Amar Singh Vs ACIT (ITAT Delhi)
Related Assessment Year : 2017-18
Courts :
All ITAT ITAT Delhi
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Amar Singh Vs ACIT (ITAT Delhi)
Assessee submitted that as per CBDT Instruction No.3/2017 dated 21.02.2017, in case of an individual having no business income, no verification is required to be made, if the total cash deposits during the demonetization period is up to Rs.2.50 lacs.
Undisputedly, assessee is a salaried person having no business income. Further, the cash deposited during the demonetization period, does not exceed the threshold limit of Rs.2.50 lacs in terms with the CBDT Instruction noted above. The CBDT instruction being beneficial to assessee, has to be applied.
In view of the...
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