Cash deposit during demonetization accepted as per circular no. 3 of 2017: ITAT Surat

Dhirajlal Bhagwanbhai Talaviya Vs ITO (ITAT Surat) ITAT Surat Held that Central Board of Direct Tax (CBDT) in its Circular No.3 of 2017, on the issue of cash deposit during demonetization directed to accept the cash deposit up to Rs.2,50,000/-. Thus, addition u/s. 69A reduced by Rs. 2,50,000/- and added the balanced amount. Facts- The case of the assessee was selected for scrutiny for the reasons of cash deposit during the demonetization. During assessment, AO noted that assessee have made cash deposit of Rs.10,50,000/- in his bank account. AO treated the entire cash deposit as unexplained mon...