Cash Deposits During Demonetisation Accepted as Genuine Cash Sales; Double Addition Deleted

Kanchan Chopra Vs ITO (ITAT Delhi)  Assessee filed an appeal against NFAC order dated 19.08.2024 confirming addition of ₹1,66,70,000 u/s 68 r.w.s.115BBE, treating cash deposits during demonetisation as unexplained. An additional legal ground was also raised alleging absence of valid jurisdictional notice u/s 143(2), as the notice was issued by Ward-40(1) while the assessment was completed by Ward-43(6). AO furnished a detailed jurisdictional report confirming restructuring of charges under orders u/s 120, after which the case validly vested with Ward-43(6). Tribunal, satisfied with the expl...