Cash deposit during Demonetisation- ITAT restricts addition to 30% of deposit

Asokan Meena Vs ITO (ITAT Chennai)

It is an admitted fact that the assessee has filed her return of income for the AY 2016-17 in ITR-4 and has maintained books of accounts, but for the AY 2017-18, she had filed return of income u/s.44AD of the Act, and estimated net profit without any books of accounts. Admittedly, return of income filed by the assessee for the AY 2017-18 is after demonetization. Therefore, the conduct of the assessee is changing return of income from ITR-4 to u/s.44AD of the Act, should be examined in light of preponderance of human pr

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