Cash Deposits During Demonetization from Salary, Not Undisclosed Income

Mohd Imran Vs Assessing Officer (ITAT Delhi) Income Tax Appellate Tribunal (ITAT), Delhi bench, has delivered a ruling in the case of Mohd Imran vs. Assessing Officer, allowing the assessee’s appeal and deleting an addition of Rs. 14,36,117 made by the tax authorities on account of unexplained cash deposits during the demonetization period. The Tribunal’s decision, pronounced on April 30, 2025, provides relief to a salaried individual who had deposited accumulated cash, claiming it originated from regular salary withdrawals held due to religious beliefs. Background of the Case The ...