ITAT Bangalore Deletes Sec 69A Addition on Demonetisation Cash Deposits Explained by Earlier Withdrawals

Advertisement Ananthaiah Roopa Vs ITO (ITAT Bangalore) Cash Deposits During Demonetisation Explained by Earlier Withdrawals for House Construction – Addition u/s 69A Deleted – Revision u/s 264 Does Not Bar Appeal – ITAT Bangalore Assessee, an individual engaged in small tailoring work, faced addition of ₹13.66 lakh u/s 69A for cash deposits made during the demonetisation period (Nov–Dec 2016). The AO passed best-judgment assessment u/s 144 after observing that the assessee had not filed return and had deposited cash in bank during demonetisation. The assessee’s appeal before CIT...