Medical Emergency Withdrawal Justified Demonetisation Cash Deposits – ITAT Deletes Addition

Arvind Kumar Rungta Vs ITO (ITAT Patna) Cash Deposits During Demonetisation Explained by Prior Withdrawal for Medical Emergency — ITAT Deletes ₹8 Lakh Addition The Patna Bench of the ITAT condoned a delay of 409 days in filing the appeal, holding the reasons to be bona fide, and proceeded to decide the matter on merits. The case involved addition of ₹8 lakh under section 69A on account of alleged unexplained cash deposits made during the demonetisation period. The assessee, a salaried employee with no other source of income, had withdrawn ₹9 lakh in April 2016 for a proposed heart surg...