Cash Deposits During Demonetization Not Unexplained When Supported by Books: ITAT Delhi

ACIT Vs Priti Brijal Bhatia (ITAT Delhi) The appeal before the Income Tax Appellate Tribunal (ITAT), Delhi was filed by the Revenue against the order of the Commissioner of Income Tax (Appeals)/NFAC for Assessment Year 2017–18. At the outset, the appeal was delayed by 68 days. Upon hearing both sides, the Tribunal found reasonable cause for the delay and condoned it, allowing the appeal to be heard on merits. The assessee had filed a return declaring income of Rs.12,31,610 and was engaged in the business of trading gold, jewellery, and diamond items. During scrutiny proceedings, the Assessin...