ITAT Remands Cash Deposit Case During Demonetization by Bar & Restaurant Manager to CIT (A) for Reconsideration

Radhakrishna Vs ITO (ITAT Bangalore)

Introduction: The recent order by the Income Tax Appellate Tribunal (ITAT) Bangalore in the case of Radhakrishna vs ITO addresses a crucial issue related to cash deposits made during the demonetization period. The ITAT remanded the matter for reconsideration, highlighting the claim that the cash deposits are attributed to business receipts of a bar and restaurant. This article provides an in-depth analysis of the case, shedding light on the circumstances, arguments, and implications.

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