Case Law Details
Smt. Saraniyaa Karthick Vs ITO (ITAT Chennai)
Introduction: The Income Tax Appellate Tribunal (ITAT) Chennai’s recent decision in the case of Smt. Saraniyaa Karthick vs. ITO revolves around the estimation of additions to income based on cash deposits made by the assessee during the demonetization period. This article provides a detailed analysis of the ITAT’s decision and its implications.
Detailed Analysis
1. Background: The appeal by the assessee pertains to the Assessment Year (AY) 2017-18 and challenges an assessment framed by the Assessing Officer (AO) under Section 144 of the Income Tax Act. The primary issue in this appeal is the estimation of additions to the assessee’s income concerning cash deposits made during the demonetization period.
2. Condonation of Delay: The Registry noted a delay of 20 days in filing the appeal, which the assessee sought to condone with an affidavit. The delay was considered, and the appeal was admitted for adjudication on merits.
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