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Cash Deposits during Demonetization – ITAT upheld PCIT instruction to follow CBDT SOP
Case Law Details
- Case Name
- Chandrakant Tatoba Patil Vs PCIT (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-2018
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Chandrakant Tatoba Patil Vs PCIT (ITAT Pune)
ITAT noted that on an examination of the assessment record, the PCIT found abnormal increase in cash deposits during demonetization period as compared to pre-demonetization period. According to the PCIT, during the period from 09-11-2016 to 31-12-2016, the assessee deposited cash amounting to Rs.1,43,81,225/- which is inclusive of an amount of Rs.74,88,867/- from Smt. Manisha Patil. There was no evidences in support of cash deposits made during de-monetization period to an extent of Rs.1,43,81,225/-.
According to the PCIT that the C...
