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No Addition u/s 69A for NRI’s cash deposit during Demonetization in NRO Account from earlier Withdrawals
Case Law Details
- Case Name
- Viren Bakhru Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Delhi
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Viren Bakhru Vs ACIT (ITAT Delhi)
Introduction: The case of Viren Bakhru vs. ACIT, heard by the ITAT Delhi, revolves around the addition of cash deposits in the Non-Resident Ordinary (NRO) account during the demonetization period. The appellant, a non-resident Indian (NRI) residing in Dubai, contested the addition made under section 69A of the Income Tax Act, 1961, providing explanations for the source of the deposited cash.
Detailed Analysis: The appellant, a non-resident Indian residing in Dubai, declared a nominal income in his return of income, prompting scrutiny by the tax authorities. Th...
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