AO failed to examine cash deposit during demonetisation as per CBDT instructions hence matter remanded

Kempapura Srinivasareddy Uday Vs DCIT (ITAT Bangalore) ITAT Bangalore held that both AO and First Appellate Authority failed to conduct examination of cash deposit during demonetisation period in the light of CBDT instructions and hence matter remanded to that extent. Facts- Assessee is an individual deriving income from other sources. The assessee has not filed return u/s. 139(1)/139(4) of the Act for AY 2017-18. A search u/s. 132 was conducted in the case of assessee in connection with search proceedings in group cases of M/s. Ectasy Projects Pvt. Ltd. and NBR Group. It was noticed that asse...